Beta Bionics (NASDAQ:BBNX) Director Sells $19,880.10 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Christy Jones sold 1,998 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $9.95, for a total value of $19,880.10. Following the transaction, the director owned 13,246 shares in the company, valued at $131,797.70. This trade represents a 13.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Beta Bionics Stock Performance

BBNX stock opened at $12.10 on Friday. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The business’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $17.73. The company has a market capitalization of $539.18 million, a price-to-earnings ratio of -8.01 and a beta of 3.29.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $27.63 million for the quarter. Sell-side analysts forecast that Beta Bionics, Inc. will post -2.19 earnings per share for the current year.

Institutional Trading of Beta Bionics

Several hedge funds and other institutional investors have recently made changes to their positions in BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $95,000. Goldman Sachs Group Inc. purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $715,000. Woodline Partners LP purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $1,530,000. Strs Ohio purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $29,000. Finally, Rhumbline Advisers purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $158,000.

Analyst Upgrades and Downgrades

BBNX has been the topic of a number of research analyst reports. UBS Group upgraded Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. Leerink Partners reduced their target price on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Truist Financial cut their price target on Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Bank of America cut their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, The Goldman Sachs Group cut their price target on Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

Beta Bionics Company Profile

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.