Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells 856 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 856 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total value of $25,115.04. Following the completion of the transaction, the insider directly owned 138,277 shares in the company, valued at approximately $4,057,047.18. This trade represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Hopman also recently made the following trade(s):

• On Wednesday, March 4th, Mark Hopman sold 353 shares of Beta Bionics stock. The shares were sold at an average price of $11.57, for a total value of $4,084.21.
• On Monday, March 2nd, Mark Hopman sold 834 shares of Beta Bionics stock. The stock was sold at an average price of $12.36, for a total value of $10,308.24.

Beta Bionics Price Performance

Shares of BBNX traded up $0.48 during midday trading on Monday, reaching $10.87. 911,515 shares of the stock were exchanged, compared to its average volume of 1,199,208. Beta Bionics, Inc. has a 52 week low of $8.89 and a 52 week high of $32.71. The company’s 50 day moving average is $15.15 and its two-hundred day moving average is $22.01.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BBNX. Vanguard Group Inc. increased its position in shares of Beta Bionics by 213.5% during the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after purchasing an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Beta Bionics in the 4th quarter worth $40,437,000. Divisadero Street Capital Management LP purchased a new position in Beta Bionics during the 2nd quarter worth $13,817,000. Eversept Partners LP purchased a new position in Beta Bionics during the 4th quarter worth $20,667,000. Finally, 12 West Capital Management LP acquired a new position in Beta Bionics during the 4th quarter valued at about $17,520,000.

Analyst Upgrades and Downgrades

BBNX has been the topic of a number of recent research reports. TD Cowen initiated coverage on shares of Beta Bionics in a research note on Monday, January 26th. They set a “hold” rating and a $17.00 price objective on the stock. Lake Street Capital set a $20.00 target price on Beta Bionics in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Stifel Nicolaus cut their price target on Beta Bionics from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

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.