Mike Mensinger Sells 7,800 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 7,800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $29.61, for a total value of $230,958.00. Following the transaction, the insider owned 82,952 shares of the company’s stock, valued at $2,456,208.72. This represents a 8.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mike Mensinger also recently made the following trade(s):

• On Tuesday, December 2nd, Mike Mensinger sold 1,063 shares of Beta Bionics stock. The stock was sold at an average price of $29.34, for a total value of $31,188.42.

Beta Bionics Trading Up 1.1%

Shares of BBNX stock traded up $0.32 on Monday, reaching $29.57. The company’s stock had a trading volume of 473,618 shares, compared to its average volume of 627,559. The stock’s fifty day simple moving average is $28.97 and its 200-day simple moving average is $21.93. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $32.71. The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of -6.77.

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.12. The firm had revenue of $27.25 million for the quarter, compared to analysts’ expectations of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%.

Analyst Ratings Changes

BBNX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of Beta Bionics from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a report on Saturday, November 1st. Lake Street Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Beta Bionics in a research report on Wednesday, October 29th. Finally, Bank of America raised their price objective on shares of Beta Bionics from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

Institutional Investors Weigh In On Beta Bionics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corebridge Financial Inc. bought a new position in Beta Bionics in the first quarter worth approximately $79,000. Divisadero Street Capital Management LP purchased a new position in Beta Bionics during the 2nd quarter valued at about $13,817,000. Alyeska Investment Group L.P. purchased a new stake in shares of Beta Bionics in the 1st quarter worth approximately $918,000. Goldman Sachs Group Inc. purchased a new position in Beta Bionics during the first quarter valued at approximately $715,000. Finally, Invesco Ltd. bought a new stake in Beta Bionics during the 1st quarter valued at $202,000.

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.