Beta Bionics (NASDAQ:BBNX) Insider Mark Hopman Sells 2,061 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 2,061 shares of Beta Bionics stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $30.66, for a total transaction of $63,190.26. Following the completion of the sale, the insider directly owned 136,216 shares of the company’s stock, valued at $4,176,382.56. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

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

Beta Bionics Trading Up 4.6%

Beta Bionics stock opened at $10.87 on Tuesday. The stock has a fifty day moving average price of $15.15 and a 200 day moving average price of $22.01. Beta Bionics, Inc. has a 52 week low of $8.89 and a 52 week high of $32.71. The firm has a market capitalization of $482.41 million, a P/E ratio of -5.57 and a beta of 5.59.

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

Institutional Investors Weigh In On Beta Bionics

Institutional investors and hedge funds have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC grew its stake in shares of Beta Bionics by 45.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after buying an additional 450 shares in the last quarter. Strs Ohio acquired a new position in Beta Bionics during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 1,594 shares in the last quarter. Summit Securities Group LLC purchased a new position in Beta Bionics in the 4th quarter worth approximately $52,000. Finally, Legal & General Group Plc boosted its holdings in Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after acquiring an additional 2,639 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BBNX shares. UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a research note on Monday, December 29th. Robert W. Baird decreased their price target on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Bank of America downgraded Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th. Finally, Stifel Nicolaus cut their target price on Beta Bionics from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.