Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells 1,025 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Jon Russell sold 1,025 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.34, for a total transaction of $30,073.50. Following the completion of the transaction, the insider directly owned 178,071 shares in the company, valued at $5,224,603.14. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Steven Jon Russell also recently made the following trade(s):

• On Monday, March 2nd, Steven Jon Russell sold 1,026 shares of Beta Bionics stock. The stock was sold at an average price of $12.36, for a total transaction of $12,681.36.

Beta Bionics Stock Up 4.6%

BBNX traded up $0.48 on Monday, reaching $10.87. The company had a trading volume of 911,515 shares, compared to its average volume of 1,199,208. Beta Bionics, Inc. has a fifty-two week low of $8.89 and a fifty-two week high of $32.71. The company’s fifty day moving average is $15.15 and its 200 day moving average is $22.01.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data 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. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.The company had revenue of $32.12 million during the quarter.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBNX. Lake Street Capital set a $20.00 price target on Beta Bionics in a research note on Wednesday, February 18th. Stifel Nicolaus dropped their target price on Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group restated a “buy” rating and issued a $25.00 price target on shares of Beta Bionics in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Finally, Truist Financial cut their price objective on shares of Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.