Beta Bionics (NASDAQ:BBNX) CFO Sells $84,184.36 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) CFO Stephen Feider sold 6,676 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $84,184.36. Following the completion of the sale, the chief financial officer owned 166,053 shares in the company, valued at $2,093,928.33. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Price Performance

NASDAQ BBNX opened at $13.89 on Friday. The company’s 50 day simple moving average is $10.93 and its 200 day simple moving average is $17.19. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The company has a market capitalization of $618.94 million, a P/E ratio of -9.20 and a beta of 3.40.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates 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. On average, analysts anticipate that Beta Bionics, Inc. will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On Beta Bionics

A number of large investors have recently made changes to their positions in the company. Perceptive Advisors LLC raised its holdings in shares of Beta Bionics by 39.8% during the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock valued at $8,446,000 after acquiring an additional 240,000 shares during the period. Eversept Partners LP raised its holdings in shares of Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after acquiring an additional 736,576 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Beta Bionics by 112.9% during the first quarter. Quantinno Capital Management LP now owns 67,879 shares of the company’s stock valued at $680,000 after acquiring an additional 35,996 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Beta Bionics during the first quarter valued at approximately $720,000. Finally, Granahan Investment Management LLC raised its holdings in shares of Beta Bionics by 104.9% during the first quarter. Granahan Investment Management LLC now owns 248,449 shares of the company’s stock valued at $2,489,000 after acquiring an additional 127,203 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBNX. Truist Financial dropped their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Leerink Partners dropped their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Lake Street Capital set a $20.00 price target on shares of Beta Bionics in a report on Wednesday, February 18th. Stifel Nicolaus cut their price target on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Beta Bionics has an average rating of “Moderate Buy” and a consensus target price of $19.70.

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.