Beta Bionics (NASDAQ:BBNX) Insider Sells 1,258 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 1,258 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $15.01, for a total transaction of $18,882.58. Following the completion of the sale, the insider owned 129,354 shares of the company’s stock, valued at $1,941,603.54. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $12.31, for a total transaction 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 transaction of $67,198.69.

Beta Bionics Trading Up 8.0%

BBNX stock traded up $1.18 during mid-day trading on Thursday, reaching $15.91. The company’s stock had a trading volume of 1,092,973 shares, compared to its average volume of 1,140,386. The stock has a market cap of $708.95 million, a PE ratio of -10.54 and a beta of 3.40. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The company’s 50 day moving average is $11.97 and its two-hundred day moving average is $15.67.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.04. The business 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, analysts forecast that Beta Bionics, Inc. will post -2.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beta Bionics

Institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC lifted its holdings in shares of Beta Bionics by 39.8% in the 1st quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock worth $8,446,000 after acquiring an additional 240,000 shares during the last quarter. Eversept Partners LP increased its holdings in 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 purchasing an additional 736,576 shares during the last quarter. Quantinno Capital Management LP raised its position in Beta Bionics by 112.9% in the first quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock valued at $680,000 after purchasing an additional 35,996 shares during the period. Lazard Asset Management LLC acquired a new position in Beta Bionics during the first quarter worth $720,000. Finally, Granahan Investment Management LLC lifted its stake in Beta Bionics by 104.9% during the first quarter. Granahan Investment Management LLC now owns 248,449 shares of the company’s stock worth $2,489,000 after purchasing an additional 127,203 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BBNX shares. Weiss Ratings downgraded Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group dropped their price objective on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Stifel Nicolaus cut their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Finally, Bank of America reduced their target price on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Beta Bionics currently has an average rating of “Moderate Buy” and an average 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.