Beta Bionics (NASDAQ:BBNX) CFO Sells 744 Shares of Company Stock

Beta Bionics, Inc. (NASDAQ:BBNX) CFO Stephen Feider sold 744 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $17.00, for a total transaction of $12,648.00. Following the completion of the sale, the chief financial officer directly owned 159,378 shares in the company, valued at approximately $2,709,426. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Stephen Feider also recently made the following trade(s):

• On Thursday, November 5th, Stephen Feider sold 382 shares of Beta Bionics stock. The shares were sold at an average price of $17.04, for a total transaction of $6,509.28.
• On Wednesday, September 2nd, Stephen Feider sold 6,675 shares of Beta Bionics stock. The stock was sold at an average price of $19.11, for a total transaction of $127,559.25.

Beta Bionics Price Performance

Shares of Beta Bionics stock traded down $1.30 during trading on Thursday, hitting $16.51. 982,435 shares of the stock were exchanged, compared to its average volume of 1,178,125. The firm’s 50-day moving average price is $18.60 and its 200 day moving average price is $14.85. The stock has a market cap of $897.60 million, a price-to-earnings ratio of -8.97 and a beta of 3.44. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, October 27th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.01. Beta Bionics had a negative return on equity of 27.33% and a negative net margin of 65.31%. The firm had revenue of $35.51 million for the quarter. As a group, research analysts forecast that Beta Bionics, Inc. will post -2.04 earnings per share for the current year.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Beta Bionics in the second quarter valued at $62,000. The Manufacturers Life Insurance Company acquired a new position in Beta Bionics in the second quarter valued at $172,000. Ieq Capital LLC purchased a new position in shares of Beta Bionics during the second quarter worth about $229,000. Quantbot Technologies LP purchased a new position in shares of Beta Bionics during the second quarter worth about $264,000. Finally, Man Group plc purchased a new position in shares of Beta Bionics during the second quarter worth about $419,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “strong sell” rating in a report on Saturday, October 31st. Leerink Partners raised their target price on Beta Bionics from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Truist Financial boosted their target price on Beta Bionics from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Robert W. Baird upped their price target on Beta Bionics from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, September 15th. Finally, Weiss Ratings upgraded shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average price target of $23.69.

Beta Bionics Company Profile

Beta Bionics, Inc. develops medical technology for people with insulin-dependent diabetes. Its main product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to help manage blood glucose levels with less manual adjustment by users. The iLet system combines an insulin pump with dosing software that works with a continuous glucose monitor. Rather than requiring users to enter detailed insulin settings, it is initialized using the user’s body weight and adjusts insulin delivery based on glucose readings.