Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells $67,198.69 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 5,329 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $67,198.69. Following the completion of the sale, the insider directly owned 130,887 shares in the company, valued at approximately $1,650,485.07. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Thursday, June 4th, Mark Hopman sold 275 shares of Beta Bionics stock. The stock was sold at an average price of $12.31, for a total transaction of $3,385.25.

Beta Bionics Price Performance

Shares of Beta Bionics stock opened at $13.89 on Friday. The company’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $17.19. The firm has a market cap of $618.94 million, a PE ratio of -9.20 and a beta of 3.40. Beta Bionics, Inc. has a 12-month low of $8.80 and a 12-month high of $32.71.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. The Goldman Sachs Group cut their target price on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Truist Financial cut their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Stifel Nicolaus cut their target price on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Finally, Leerink Partners cut their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.70.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Beta Bionics during the 1st quarter valued at about $95,000. Goldman Sachs Group Inc. purchased a new position in Beta Bionics during the 1st quarter valued at about $715,000. Woodline Partners LP purchased a new position in Beta Bionics during the 1st quarter valued at about $1,530,000. Strs Ohio purchased a new position in Beta Bionics during the 1st quarter valued at about $29,000. Finally, Rhumbline Advisers purchased a new position in Beta Bionics in the first quarter worth about $158,000.

About Beta Bionics

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.