Maria Palasis Sells 1,406 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Maria Palasis sold 1,406 shares of Beta Bionics stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $26.91, for a total value of $37,835.46. Following the completion of the sale, the director directly owned 9,841 shares in the company, valued at approximately $264,821.31. This represents a 12.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Beta Bionics Stock Down 5.5%

NASDAQ:BBNX opened at $25.04 on Friday. The company has a market cap of $1.10 billion and a P/E ratio of -5.73. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $30.47. The business has a 50 day moving average price of $22.53 and a two-hundred day moving average price of $17.67.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.12. The company had revenue of $27.25 million for the quarter, compared to the consensus estimate of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%. Beta Bionics has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Beta Bionics

Hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC grew its holdings in Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after purchasing an additional 450 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Beta Bionics by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,558 shares of the company’s stock valued at $343,000 after buying an additional 2,205 shares during the last quarter. Strs Ohio bought a new position in shares of Beta Bionics during the 1st quarter worth approximately $29,000. Legal & General Group Plc increased its holdings in shares of Beta Bionics by 197.4% during 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 last quarter. Finally, CWM LLC acquired a new position in shares of Beta Bionics during the 2nd quarter worth approximately $58,000.

Analyst Ratings Changes

BBNX has been the topic of several analyst reports. Truist Financial reissued a “buy” rating and set a $32.00 price target (up from $28.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Piper Sandler reiterated an “overweight” rating and set a $32.00 target price (up previously from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Lake Street Capital reissued a “buy” rating and set a $35.00 price target on shares of Beta Bionics in a research report on Wednesday, October 29th. Wall Street Zen raised Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Beta Bionics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.22.

About Beta Bionics

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.