Beta Bionics (NASDAQ:BBNX) Insider Sells $63,190.26 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mark Hopman sold 2,061 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $30.66, for a total transaction of $63,190.26. Following the sale, the insider directly owned 136,216 shares in the company, valued at $4,176,382.56. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Hopman also recently made the following trade(s):

• On Wednesday, March 4th, Mark Hopman sold 353 shares of Beta Bionics stock. The stock was sold at an average price of $11.57, for a total transaction of $4,084.21.
• On Monday, March 2nd, Mark Hopman sold 834 shares of Beta Bionics stock. The stock was sold at an average price of $12.36, for a total value of $10,308.24.

Beta Bionics Stock Up 4.6%

BBNX traded up $0.48 during mid-day trading on Monday, reaching $10.87. The stock had a trading volume of 911,515 shares, compared to its average volume of 1,199,208. The firm’s fifty day simple moving average is $15.15 and its two-hundred day simple moving average is $22.01. Beta Bionics, Inc. has a 52 week low of $8.89 and a 52 week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.12. The firm had revenue of $32.12 million during the quarter. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.

Analyst Ratings Changes

A number of research firms have commented on BBNX. Bank of America lowered shares of Beta Bionics from a “buy” rating to a “neutral” rating in a report on Friday, January 9th. Truist Financial cut their price target on Beta Bionics from $37.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Robert W. Baird reduced their price target on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beta Bionics in a report on Monday, December 29th. Finally, TD Cowen assumed coverage on Beta Bionics in a research note on Monday, January 26th. They issued a “hold” rating and a $17.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

Institutional Trading of Beta Bionics

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after buying an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Beta Bionics during the fourth quarter worth $40,437,000. Divisadero Street Capital Management LP acquired a new stake in shares of Beta Bionics during the second quarter worth $13,817,000. Eversept Partners LP bought a new stake in Beta Bionics in the 4th quarter valued at $20,667,000. Finally, 12 West Capital Management LP bought a new stake in Beta Bionics in the 4th quarter valued at $17,520,000.

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.