Beta Bionics (NASDAQ:BBNX) Insider Mike Mensinger Sells 1,063 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 1,063 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total transaction of $31,188.42. Following the transaction, the insider directly owned 90,752 shares in the company, valued at $2,662,663.68. This trade represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Beta Bionics Trading Down 1.5%

NASDAQ:BBNX traded down $0.44 during trading hours on Friday, hitting $29.56. 78,002 shares of the company traded hands, compared to its average volume of 609,718. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $32.71. The firm has a 50-day moving average of $25.15 and a 200 day moving average of $20.01. The stock has a market capitalization of $1.30 billion and a price-to-earnings ratio of -6.76.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.12. The company had revenue of $27.25 million for the quarter, compared to the consensus estimate of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BBNX. Truist Financial reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $28.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Wall Street Zen upgraded Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler restated an “overweight” rating and issued a $32.00 target price (up from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Lake Street Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of Beta Bionics in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $23.00 price target on shares of Beta Bionics in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Beta Bionics currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Institutional Investors Weigh In On Beta Bionics

A number of hedge funds have recently made changes to their positions in BBNX. Eventide Asset Management LLC lifted its holdings in Beta Bionics by 0.5% during the 3rd quarter. Eventide Asset Management LLC now owns 4,957,252 shares of the company’s stock valued at $98,500,000 after purchasing an additional 24,901 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Beta Bionics by 2.6% during the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after buying an additional 110,000 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Beta Bionics during the first quarter worth approximately $47,346,000. Soleus Capital Management L.P. raised its stake in shares of Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after acquiring an additional 424,817 shares during the last quarter. Finally, Sands Capital Alternatives LLC boosted its holdings in shares of Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company’s stock worth $51,981,000 after acquiring an additional 466,331 shares in the last quarter.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.