Beta Bionics (NASDAQ:BBNX) Director Sells $11,187.58 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) Director Adam Lezack sold 998 shares of Beta Bionics stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.21, for a total value of $11,187.58. Following the completion of the transaction, the director owned 27,399 shares in the company, valued at $307,142.79. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Adam Lezack also recently made the following trade(s):

• On Thursday, May 21st, Adam Lezack sold 1,000 shares of Beta Bionics stock. The stock was sold at an average price of $9.95, for a total transaction of $9,950.00.

Beta Bionics Stock Up 4.0%

Shares of Beta Bionics stock opened at $12.10 on Friday. The firm’s 50 day moving average price is $10.69 and its 200-day moving average price is $17.73. Beta Bionics, Inc. has a 52-week low of $8.80 and a 52-week high of $32.71. The company has a market cap of $539.18 million, a P/E ratio of -8.01 and a beta of 3.29.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $27.63 million for the quarter. As a group, equities research analysts forecast that Beta Bionics, Inc. will post -2.19 EPS for the current fiscal year.

Institutional Trading of Beta Bionics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Eversept Partners LP increased 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 worth $14,177,000 after buying an additional 736,576 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Beta Bionics by 112.9% in the 1st quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock valued at $680,000 after purchasing an additional 35,996 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Beta Bionics in the first quarter valued at approximately $720,000. Granahan Investment Management LLC raised its position in Beta Bionics by 104.9% in the first quarter. Granahan Investment Management LLC now owns 248,449 shares of the company’s stock valued at $2,489,000 after purchasing an additional 127,203 shares during the period. Finally, Bruce & Co. Inc. acquired a new position in Beta Bionics during the first quarter worth $5,518,000.

Analyst Upgrades and Downgrades

BBNX has been the subject of a number of recent analyst reports. Leerink Partners lowered their price objective on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Robert W. Baird lowered their price objective on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Bank of America dropped their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Weiss Ratings downgraded Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus reduced their target price on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

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.