Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells $101,798.97 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 5,327 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $101,798.97. Following the completion of the sale, the insider directly owned 124,027 shares in the company, valued at approximately $2,370,155.97. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Mark Hopman also recently made the following trade(s):

• On Wednesday, June 24th, Mark Hopman sold 1,258 shares of Beta Bionics stock. The stock was sold at an average price of $15.01, for a total value of $18,882.58.

Beta Bionics Stock Up 2.6%

Shares of NASDAQ BBNX traded up $0.50 during trading on Thursday, reaching $19.92. The company had a trading volume of 1,403,531 shares, compared to its average volume of 1,146,397. The stock has a market cap of $896.20 million, a P/E ratio of -12.07 and a beta of 3.37. The company’s fifty day moving average price is $17.03 and its 200-day moving average price is $13.57. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million during the quarter. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%. As a group, equities analysts predict that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors have recently made changes to their positions in BBNX. Summit Securities Group LLC bought a new stake in Beta Bionics in the 4th quarter valued at about $52,000. Caitong International Asset Management Co. Ltd boosted its holdings in Beta Bionics by 1,075.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after acquiring an additional 1,818 shares in the last quarter. Strs Ohio acquired a new stake in Beta Bionics in the first quarter valued at approximately $29,000. Legal & General Group Plc bought a new stake in shares of Beta Bionics during the second quarter valued at approximately $62,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Beta Bionics by 630,000.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,301 shares of the company’s stock valued at $192,000 after acquiring an additional 6,300 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on BBNX. Truist Financial upped their price objective on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, July 13th. William Blair initiated coverage on shares of Beta Bionics in a research note on Friday, August 21st. They set a “market perform” rating for the company. UBS Group started coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They set a “buy” rating and a $22.00 price target on the stock. Weiss Ratings raised Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group upped their target price on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.10.

About Beta Bionics

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual?hormone modes.