Beta Bionics (NASDAQ:BBNX) Director Adam Lezack Sells 1,406 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Adam Lezack sold 1,406 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $26.87, for a total transaction of $37,779.22. Following the completion of the transaction, the director owned 9,841 shares of the company’s stock, valued at approximately $264,427.67. This trade represents a 12.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $26.51 on Thursday. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $30.47. The firm has a market cap of $1.17 billion and a P/E ratio of -6.07. The stock has a fifty day moving average price of $22.40 and a two-hundred day moving average price of $17.62.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. The firm had revenue of $27.25 million during the quarter, compared to analysts’ expectations of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%. Beta Bionics has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBNX. Bank of New York Mellon Corp bought a new position in shares of Beta Bionics during the 1st quarter worth about $316,000. Values First Advisors Inc. bought a new position in shares of Beta Bionics during the 1st quarter worth about $457,000. Jennison Associates LLC bought a new position in shares of Beta Bionics during the 1st quarter worth about $828,000. TD Asset Management Inc acquired a new stake in shares of Beta Bionics during the 1st quarter valued at about $488,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Beta Bionics during the 1st quarter valued at about $1,244,000.

Analysts Set New Price Targets

A number of brokerages have commented on BBNX. The Goldman Sachs Group raised their price objective on Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Truist Financial reiterated a “buy” rating and issued a $32.00 target price (up previously from $28.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Beta Bionics in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Robert W. Baird set a $23.00 price objective on shares of Beta Bionics in a research note on Wednesday, October 29th. One 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 given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.22.

About Beta Bionics

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.