Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells $18,882.58 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 1,258 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $15.01, for a total value of $18,882.58. Following the sale, the insider directly owned 129,354 shares in the company, valued at $1,941,603.54. This represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 4th, Mark Hopman sold 275 shares of Beta Bionics stock. The shares were sold at an average price of $12.31, for a total value of $3,385.25.
• On Tuesday, June 2nd, Mark Hopman sold 5,329 shares of Beta Bionics stock. The shares were sold at an average price of $12.61, for a total value of $67,198.69.

Beta Bionics Price Performance

BBNX opened at $16.82 on Friday. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The stock has a market capitalization of $749.50 million, a price-to-earnings ratio of -11.14 and a beta of 3.40. The business has a fifty day moving average price of $12.13 and a 200 day moving average price of $15.58.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. The company had revenue of $27.63 million for the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. On average, research analysts anticipate that Beta Bionics, Inc. will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On Beta Bionics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eventide Asset Management LLC boosted its holdings in Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after purchasing an additional 37,476 shares in the last quarter. Farallon Capital Management LLC raised its holdings in 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 purchasing an additional 110,000 shares in the last quarter. Soleus Capital Management L.P. raised its holdings in Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after purchasing an additional 424,817 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after buying an additional 1,509,217 shares during the last quarter. Finally, Eversept Partners LP boosted its holdings in shares of Beta Bionics by 108.6% in the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after buying an additional 736,576 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BBNX shares. Leerink Partners decreased their price target on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Truist Financial dropped their price objective on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Bank of America reduced their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. The Goldman Sachs Group decreased 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. Finally, Weiss Ratings downgraded shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Beta Bionics has an average rating of “Moderate Buy” and a consensus price target of $19.70.

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.