Beta Bionics (NASDAQ:BBNX) Insider Sells $83,606.25 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 4,375 shares of Beta Bionics stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total value of $83,606.25. Following the sale, the insider directly owned 180,040 shares of the company’s stock, valued at $3,440,564.40. This represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Stock Performance

Shares of BBNX stock traded up $0.50 on Thursday, hitting $19.92. The company’s stock had a trading volume of 1,403,531 shares, compared to its average volume of 1,146,397. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The company has a market capitalization of $896.20 million, a PE ratio of -12.07 and a beta of 3.37. The stock’s 50 day moving average is $17.03 and its 200-day moving average is $13.57.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. The business had revenue of $32.01 million during the quarter. On average, research analysts forecast that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BBNX. 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 report on Monday, May 18th. Weiss Ratings upgraded shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 18th. William Blair assumed coverage on shares of Beta Bionics in a research report on Friday, August 21st. They set a “market perform” rating for the company. Truist Financial upped their target price on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, The Goldman Sachs Group lifted their price target on Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBNX. Summit Securities Group LLC acquired a new position in Beta Bionics in the 4th quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Beta Bionics by 1,075.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after purchasing an additional 1,818 shares during the last quarter. Strs Ohio acquired a new stake in Beta Bionics in the first quarter valued at $29,000. Legal & General Group Plc bought a new stake in shares of Beta Bionics in the 2nd quarter valued at about $62,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Beta Bionics by 630,000.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,301 shares of the company’s stock valued at $192,000 after buying an additional 6,300 shares during the last quarter.

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.