Beta Bionics (NASDAQ:BBNX) Insider Sells $101,798.97 in Stock

by · The Markets Daily

Beta Bionics, Inc. (NASDAQ:BBNX – Get Free Report) insider Mark Hopman sold 5,327 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $101,798.97. Following the sale, the insider directly owned 124,027 shares of the company’s stock, valued at approximately $2,370,155.97. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

  • On Wednesday, June 24th, Mark Hopman sold 1,258 shares of Beta Bionics stock. The shares were sold at an average price of $15.01, for a total transaction of $18,882.58.

Beta Bionics Price Performance

BBNX traded up $0.50 during trading on Thursday, hitting $19.92. 1,403,531 shares of the stock traded hands, compared to its average volume of 1,146,397. The business has a 50 day moving average price of $17.03 and a 200 day moving average price of $13.57. Beta Bionics, Inc. has a twelve month low of $8.80 and a twelve month high of $32.71. The company has a market cap of $896.20 million, a price-to-earnings ratio of -12.07 and a beta of 3.37.

Beta Bionics (NASDAQ:BBNX – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The firm had revenue of $32.01 million for the quarter. On average, equities research analysts predict that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Hedge Funds Weigh In On Beta Bionics

Large investors have recently bought and sold shares of the company. Eventide Asset Management LLC boosted its stake in shares of Beta Bionics by 0.8% during the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after purchasing an additional 37,476 shares in the last quarter. Soleus Capital Management L.P. increased its stake in shares of Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after buying an additional 424,817 shares during the period. BlackRock Inc. bought a new position in Beta Bionics in the 2nd quarter valued at approximately $52,340,000. Vanguard Group Inc. raised its holdings in Beta Bionics by 213.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after buying an additional 1,509,217 shares during the last quarter. Finally, Eversept Partners LP boosted its position in Beta Bionics by 108.6% during the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after buying an additional 736,576 shares during the period.

Analysts Set New Price Targets

BBNX has been the subject of several research analyst reports. Truist Financial boosted 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. William Blair assumed coverage on shares of Beta Bionics in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Bank of America decreased their price target on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. UBS Group began coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Weiss Ratings raised shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Check Out Our Latest Report on Beta Bionics

Beta Bionics Company Profile

(Get Free Report)

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.

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