Beta Bionics (NASDAQ:BBNX) Shares Down 7.7% – Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price dropped 7.7% on Tuesday . The company traded as low as $13.51 and last traded at $13.2770. Approximately 127,444 shares changed hands during trading, a decline of 89% from the average daily volume of 1,130,836 shares. The stock had previously closed at $14.38.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. The Goldman Sachs Group reduced their price objective on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Truist Financial reduced their price objective on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen downgraded shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Finally, Lake Street Capital set a $20.00 price objective on shares of Beta Bionics in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.70.

Beta Bionics Stock Performance

The company has a 50 day moving average price of $11.40 and a 200 day moving average price of $16.47. The company has a market capitalization of $612.03 million, a price-to-earnings ratio of -9.10 and a beta of 3.40.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.04. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%.The company had revenue of $27.63 million during the quarter. Research analysts forecast that Beta Bionics, Inc. will post -2.22 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christy Jones sold 2,811 shares of Beta Bionics stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $14.00, for a total value of $39,354.00. Following the completion of the sale, the director owned 27,400 shares of the company’s stock, valued at approximately $383,600. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Jon Russell sold 4,222 shares of Beta Bionics stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the completion of the sale, the insider directly owned 173,849 shares of the company’s stock, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 27,687 shares of company stock worth $343,586 in the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Trading of Beta Bionics

Several hedge funds have recently bought and sold shares of BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Beta Bionics in the 1st quarter valued at $95,000. Goldman Sachs Group Inc. acquired a new stake in Beta Bionics in the 1st quarter valued at $715,000. Woodline Partners LP acquired a new stake in Beta Bionics in the 1st quarter valued at $1,530,000. Strs Ohio acquired a new stake in Beta Bionics in the 1st quarter valued at $29,000. Finally, Rhumbline Advisers bought a new position in Beta Bionics during the 1st quarter valued at $158,000.

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.