Beta Bionics (NASDAQ:BBNX) Director Sells $19,880.10 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Christy Jones sold 1,998 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.95, for a total transaction of $19,880.10. Following the sale, the director owned 13,246 shares in the company, valued at $131,797.70. The trade was a 13.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Beta Bionics Price Performance

Shares of BBNX stock traded down $0.10 on Tuesday, hitting $11.72. 795,893 shares of the stock traded hands, compared to its average volume of 1,168,092. The firm has a market cap of $522.24 million, a price-to-earnings ratio of -7.76 and a beta of 3.29. Beta Bionics, Inc. has a 52 week low of $8.80 and a 52 week high of $32.71. The firm has a 50 day simple moving average of $10.62 and a two-hundred day simple moving average of $18.03.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts forecast that Beta Bionics, Inc. will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Beta Bionics

Large investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock worth $29,000 after purchasing an additional 450 shares during the period. Strs Ohio purchased a new position in shares of Beta Bionics during the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after purchasing an additional 1,594 shares during the period. Summit Securities Group LLC purchased a new position in shares of Beta Bionics during the 4th quarter worth about $52,000. Finally, Legal & General Group Plc boosted its stake in shares of Beta Bionics by 197.4% during the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after purchasing an additional 2,639 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BBNX shares. The Goldman Sachs Group cut their target price on shares of Beta Bionics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Truist Financial dropped their price objective on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Robert W. Baird dropped their price objective on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings cut shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Finally, Bank of America dropped their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.