Beta Bionics (NASDAQ:BBNX) Insider Sells $31,188.42 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 1,063 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.34, for a total transaction of $31,188.42. Following the completion of the transaction, the insider directly owned 90,752 shares in the company, valued at $2,662,663.68. The trade was a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Beta Bionics Price Performance

Shares of NASDAQ:BBNX traded down $0.40 during mid-day trading on Thursday, reaching $30.00. 2,652,084 shares of the company were exchanged, compared to its average volume of 612,373. The firm has a market cap of $1.32 billion and a price-to-earnings ratio of -6.86. The firm’s 50-day simple moving average is $24.99 and its 200 day simple moving average is $19.94. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $32.71.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.12. Beta Bionics had a negative return on equity of 35.72% and a negative net margin of 87.89%.The company had revenue of $27.25 million for the quarter, compared to analysts’ expectations of $23.92 million.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC increased its position in shares of Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after purchasing an additional 450 shares during the last quarter. Strs Ohio purchased a new stake in shares of Beta Bionics during the 1st quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Beta Bionics by 203.6% during the third 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 in the last quarter. CWM LLC purchased a new position in Beta Bionics in the second quarter valued at $58,000. Finally, Legal & General Group Plc raised its stake in Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after buying an additional 2,639 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBNX. Wall Street Zen raised Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. Lake Street Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Beta Bionics in a research note on Wednesday, October 29th. Truist Financial reaffirmed a “buy” rating and set a $32.00 target price (up from $28.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their price target on shares of Beta Bionics from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $23.00 price target on shares of Beta Bionics in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.22.

About Beta Bionics

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.