Beta Bionics (NASDAQ:BBNX) Insider Sells $66,220.00 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 2,200 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $30.10, for a total transaction of $66,220.00. Following the sale, the insider directly owned 80,752 shares in the company, valued at approximately $2,430,635.20. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mike Mensinger also recently made the following trade(s):

• On Friday, January 2nd, Mike Mensinger sold 7,800 shares of Beta Bionics stock. The stock was sold at an average price of $29.61, for a total transaction of $230,958.00.
• On Tuesday, December 2nd, Mike Mensinger sold 1,063 shares of Beta Bionics stock. The shares were sold at an average price of $29.34, for a total transaction of $31,188.42.

Beta Bionics Stock Up 0.3%

BBNX traded up $0.09 on Wednesday, hitting $31.49. The company had a trading volume of 639,556 shares, compared to its average volume of 686,514. The business’s fifty day simple moving average is $29.23 and its 200 day simple moving average is $22.11. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $32.71. The company has a market cap of $1.39 billion and a PE ratio of -7.21.

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

Institutional Investors Weigh In On Beta Bionics

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new position in shares of Beta Bionics during the first quarter worth approximately $202,000. MetLife Investment Management LLC bought a new position in Beta Bionics in the first quarter worth approximately $102,000. Corebridge Financial Inc. bought a new position in Beta Bionics in the first quarter worth approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Beta Bionics during the 1st quarter worth $95,000. Finally, Goldman Sachs Group Inc. bought a new stake in Beta Bionics during the 1st quarter valued at $715,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Lake Street Capital reiterated a “buy” rating and set a $35.00 price objective on shares of Beta Bionics in a research report on Wednesday, October 29th. Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price target (up from $26.00) on shares of Beta Bionics in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $32.00 target price (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Finally, Bank of America upped their target price on Beta Bionics from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Beta Bionics has an average rating of “Moderate Buy” and a consensus target price of $29.70.

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.