Beta Bionics (NASDAQ:BBNX) Stock Price Down 5.7% After Insider Selling

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) traded down 5.7% on Tuesday following insider selling activity. The company traded as low as $16.00 and last traded at $16.03. 347,071 shares traded hands during trading, a decline of 69% from the average session volume of 1,137,099 shares. The stock had previously closed at $17.00.

Specifically, CFO Stephen Feider sold 4,896 shares of Beta Bionics stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $17.03, for a total value of $83,378.88. Following the sale, the chief financial officer directly owned 165,931 shares of the company’s stock, valued at approximately $2,825,804.93. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stephen Feider sold 5,104 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $17.05, for a total value of $87,023.20. Following the transaction, the chief financial officer directly owned 165,931 shares of the company’s stock, valued at approximately $2,829,123.55. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Bank of America cut their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Stifel Nicolaus reduced their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Leerink Partners reduced their price target on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.70.

Beta Bionics Trading Down 1.9%

The firm has a market capitalization of $729.89 million, a P/E ratio of -10.86 and a beta of 3.02. The firm has a 50 day moving average price of $12.36 and a 200-day moving average price of $15.22.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.04. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%.The firm had revenue of $27.63 million for the quarter. Research analysts anticipate that Beta Bionics, Inc. will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.