Beta Bionics (NASDAQ:BBNX) Stock Price Down 5.7% on Insider Selling

Beta Bionics, Inc. (NASDAQ:BBNX) shares were down 5.7% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $16.00 and last traded at $16.03. 347,071 shares traded hands during trading, a decline of 69% from the average session volume of 1,137,099 shares. The stock had previously closed at $17.00.

Specifically, CFO Stephen Feider sold 4,896 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $17.03, for a total value of $83,378.88. Following the transaction, the chief financial officer directly owned 165,931 shares of the company’s stock, valued at approximately $2,825,804.93. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stephen Feider sold 5,104 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $17.05, for a total value of $87,023.20. Following the sale, the chief financial officer owned 165,931 shares of the company’s stock, valued at approximately $2,829,123.55. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

BBNX has been the topic of several recent research reports. Bank of America lowered their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group reduced their target price on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Stifel Nicolaus cut their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Leerink Partners reduced their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.70.

Beta Bionics Trading Down 1.9%

The stock has a 50 day moving average of $12.36 and a 200-day moving average of $15.22. The company has a market capitalization of $730.29 million, a P/E ratio of -10.85 and a beta of 3.02.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates 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. As a group, sell-side analysts expect that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beta Bionics

Institutional investors and hedge funds have recently bought and sold shares of the business. Eventide Asset Management LLC boosted its stake in Beta Bionics by 0.8% in the 4th quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock worth $152,233,000 after purchasing an additional 37,476 shares during the period. Farallon Capital Management LLC increased its holdings in Beta Bionics by 2.6% in the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after acquiring an additional 110,000 shares during the last quarter. Soleus Capital Management L.P. lifted its stake in Beta Bionics by 12.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after purchasing an additional 424,817 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after purchasing an additional 1,509,217 shares during the last quarter. Finally, Eversept Partners LP boosted its holdings in shares of Beta Bionics by 108.6% during the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after purchasing an additional 736,576 shares during the last quarter.

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.