Beta Bionics (NASDAQ:BBNX) Insider Sells $230,958.00 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 7,800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $29.61, for a total transaction of $230,958.00. Following the sale, the insider directly owned 82,952 shares in the company, valued at approximately $2,456,208.72. The trade was a 8.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, January 6th, Mike Mensinger sold 2,200 shares of Beta Bionics stock. The shares were sold at an average price of $30.10, for a total transaction of $66,220.00.
• 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 Price Performance

Shares of NASDAQ:BBNX opened at $31.49 on Thursday. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $32.71. The firm has a market capitalization of $1.39 billion and a P/E ratio of -7.21. The company’s fifty day moving average price is $29.32 and its 200 day moving average price is $22.17.

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, topping the consensus estimate 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 analyst estimates of $23.92 million.

Hedge Funds Weigh In On Beta Bionics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC lifted its stake 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 worth $29,000 after acquiring an additional 450 shares during the period. EverSource Wealth Advisors LLC raised its holdings in 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. Verition Fund Management LLC lifted its position in Beta Bionics by 4.0% in the third quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock valued at $940,000 after purchasing an additional 1,823 shares during the period. Ameritas Investment Partners Inc. lifted its position in Beta Bionics by 139.1% in the third quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock valued at $64,000 after purchasing an additional 1,863 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Beta Bionics by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,558 shares of the company’s stock valued at $343,000 after purchasing an additional 2,205 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on BBNX shares. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. The Goldman Sachs Group upped 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. Bank of America increased their price target on shares of Beta Bionics from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Beta Bionics from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 1st. One investment 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.