Beta Bionics (NASDAQ:BBNX) Insider Sells $55,206.58 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 4,378 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $55,206.58. Following the transaction, the insider directly owned 184,415 shares of the company’s stock, valued at approximately $2,325,473.15. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Price Performance

Shares of NASDAQ BBNX opened at $13.89 on Friday. Beta Bionics, Inc. has a 1 year low of $8.80 and a 1 year high of $32.71. The company’s 50-day moving average is $10.93 and its 200 day moving average is $17.19. The stock has a market capitalization of $618.94 million, a P/E ratio of -9.20 and a beta of 3.40.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.04. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The company had revenue of $27.63 million for the quarter. Research analysts anticipate that Beta Bionics, Inc. will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On Beta Bionics

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in shares of Beta Bionics during the fourth quarter valued at approximately $52,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock valued at $61,000 after buying an additional 1,818 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Beta Bionics by 203.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after buying an additional 1,594 shares during the last quarter. Strs Ohio purchased a new stake in shares of Beta Bionics during the first quarter valued at approximately $29,000. Finally, Ameritas Investment Partners Inc. grew its holdings 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 valued at $64,000 after buying an additional 1,863 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BBNX. 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. Robert W. Baird reduced their price target on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. Truist Financial reduced their price target on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.70.

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.