Beta Bionics (NASDAQ:BBNX) Insider Mike Mensinger Sells 1,063 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 1,063 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $29.34, for a total value of $31,188.42. Following the completion of the transaction, the insider directly owned 90,752 shares of the company’s stock, valued at $2,662,663.68. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Beta Bionics Stock Down 1.3%

Beta Bionics stock traded down $0.40 during mid-day trading on Thursday, hitting $30.00. The company had a trading volume of 2,652,084 shares, compared to its average volume of 612,373. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $32.71. The business has a fifty day moving average of $24.99 and a 200 day moving average of $19.94. The stock has a market cap of $1.32 billion and a price-to-earnings ratio of -6.86.

Beta Bionics (NASDAQ:BBNX) last issued 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 business had revenue of $27.25 million during 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%.

Hedge Funds Weigh In On Beta Bionics

Institutional investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC raised its stake in Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after acquiring an additional 450 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after purchasing an additional 1,594 shares during the period. Verition Fund Management LLC raised its stake in shares of Beta Bionics by 4.0% during the third quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock worth $940,000 after purchasing an additional 1,823 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Beta Bionics by 139.1% during the third quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock worth $64,000 after purchasing an additional 1,863 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Beta Bionics by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 23,558 shares of the company’s stock worth $343,000 after purchasing an additional 2,205 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on BBNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a report on Monday. Truist Financial reissued a “buy” rating and issued a $32.00 target price (up from $28.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. The Goldman Sachs Group raised their price target on Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Lake Street Capital reiterated a “buy” rating and issued a $35.00 price objective on shares of Beta Bionics in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $23.00 price objective on Beta Bionics in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.