Mark Hopman Sells 5,329 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 5,329 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $67,198.69. Following the transaction, the insider owned 130,887 shares of the company’s stock, valued at $1,650,485.07. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Stock Performance

NASDAQ BBNX opened at $13.89 on Friday. The company has a market capitalization of $618.94 million, a P/E ratio of -9.20 and a beta of 3.40. Beta Bionics, Inc. has a one year low of $8.80 and a one year high of $32.71. The stock has a 50 day moving average price of $10.88 and a 200-day moving average price of $17.21.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.04. The firm had revenue of $27.63 million during the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. As a group, equities analysts predict that Beta Bionics, Inc. will post -2.19 EPS for the current fiscal year.

Key Beta Bionics News

Here are the key news stories impacting Beta Bionics this week:

• Positive Sentiment: Beta Bionics recently said it is publishing near real-time real-world data on its iLet Bionic Pancreas on a public website, which could support transparency and commercial momentum. Article Title
• Neutral Sentiment: Several insider stock sales were disclosed, but the company said they were made to cover tax obligations related to equity award vesting, making the impact less concerning than discretionary selling.
• Negative Sentiment: Johnson Fistel and Robbins LLP announced investigations into Beta Bionics and its officers over possible securities-law violations tied to investor losses and slower new patient start growth, creating a legal overhang. Article Title

Institutional Trading of Beta Bionics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC increased its stake in Beta Bionics by 39.8% in the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock worth $8,446,000 after purchasing an additional 240,000 shares during the period. Eversept Partners LP increased its stake in Beta Bionics by 108.6% in the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after purchasing an additional 736,576 shares during the period. Quantinno Capital Management LP increased its stake in Beta Bionics by 112.9% in the first quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock worth $680,000 after purchasing an additional 35,996 shares during the period. Lazard Asset Management LLC purchased a new stake in Beta Bionics in the first quarter worth $720,000. Finally, Granahan Investment Management LLC increased its stake in Beta Bionics by 104.9% in 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 during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BBNX shares. Robert W. Baird lowered their target price on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Stifel Nicolaus decreased their price target on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Lake Street Capital set a $20.00 price target on Beta Bionics in a report on Wednesday, February 18th. Finally, Bank of America decreased their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.