The Manufacturers Life Insurance Company Sells 35,829 Shares of Beta Bionics, Inc. $BBNX

The Manufacturers Life Insurance Company lessened its holdings in Beta Bionics, Inc. (NASDAQ:BBNX) by 77.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,610 shares of the company’s stock after selling 35,829 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Beta Bionics were worth $106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eventide Asset Management LLC increased its holdings in Beta Bionics by 0.8% during the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after buying an additional 37,476 shares during the period. Soleus Capital Management L.P. lifted its holdings in Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after buying an additional 424,817 shares during the period. Vanguard Group Inc. boosted its position in 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 acquiring an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Beta Bionics during the 4th quarter valued at $40,437,000. Finally, Millennium Management LLC boosted its position in Beta Bionics by 18.6% during the 4th quarter. Millennium Management LLC now owns 945,461 shares of the company’s stock valued at $28,808,000 after acquiring an additional 148,497 shares in the last quarter.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $19.02 on Wednesday. Beta Bionics, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The company has a market cap of $855.71 million, a PE ratio of -11.53 and a beta of 3.13. The business has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $13.14.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.09. The firm had revenue of $32.01 million during the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. On average, sell-side analysts predict that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Stifel Nicolaus dropped their price objective on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. UBS Group began coverage on shares of Beta Bionics in a report on Tuesday, July 28th. They issued a “buy” rating and a $22.00 target price for the company. Truist Financial increased their price target on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, Leerink Partners lowered their price target on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average price target of $20.10.

Insider Buying and Selling at Beta Bionics

In other news, Director Christy Jones sold 2,811 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $14.00, for a total transaction of $39,354.00. Following the sale, the director directly owned 27,400 shares of the company’s stock, valued at $383,600. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Hopman sold 5,329 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $67,198.69. Following the completion of the transaction, the insider directly owned 130,887 shares in the company, valued at approximately $1,650,485.07. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 40,351 shares of company stock worth $553,961 in the last three months. 5.30% of the stock is owned by company insiders.

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.