Beta Bionics (NASDAQ:BBNX) Insider Mark Hopman Sells 834 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 834 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.36, for a total transaction of $10,308.24. Following the transaction, the insider directly owned 139,486 shares in the company, valued at approximately $1,724,046.96. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Beta Bionics Stock Performance

NASDAQ BBNX traded down $0.95 on Tuesday, reaching $11.57. 1,609,029 shares of the stock traded hands, compared to its average volume of 1,181,053. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $32.71. The company has a market cap of $513.48 million, a price-to-earnings ratio of -5.93 and a beta of 5.60. The company has a fifty day moving average price of $18.74 and a 200-day moving average price of $22.43.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.12. The firm had revenue of $32.12 million during the quarter. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BBNX shares. Lake Street Capital set a $20.00 price objective on shares of Beta Bionics in a research report on Wednesday, February 18th. Stifel Nicolaus decreased their price target on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. TD Cowen started coverage on shares of Beta Bionics in a report on Monday, January 26th. They set a “hold” rating and a $17.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research note on Monday, December 29th. Finally, UBS Group upgraded Beta Bionics to a “strong-buy” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.20.

Institutional Investors Weigh In On Beta Bionics

Several institutional investors have recently added to or reduced their stakes in BBNX. GPS Wealth Strategies Group LLC grew its holdings in shares of Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after buying an additional 450 shares during the last quarter. Strs Ohio acquired a new position in Beta Bionics during the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its position in Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Beta Bionics during the 4th quarter valued at about $52,000. Finally, CWM LLC purchased a new position in shares of Beta Bionics in the second quarter valued at $58,000.

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.