Insider Selling: Beta Bionics (NASDAQ:BBNX) CFO Sells $87,023.20 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) CFO Stephen Feider sold 5,104 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.05, for a total value of $87,023.20. Following the transaction, the chief financial officer owned 165,931 shares of the company’s stock, valued at approximately $2,829,123.55. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stephen Feider also recently made the following trade(s):

• On Monday, June 29th, Stephen Feider sold 4,896 shares of Beta Bionics stock. The stock was sold at an average price of $17.03, for a total value of $83,378.88.
• On Tuesday, June 2nd, Stephen Feider sold 6,676 shares of Beta Bionics stock. The shares were sold at an average price of $12.61, for a total value of $84,184.36.

Beta Bionics Stock Performance

Shares of BBNX traded down $1.33 during midday trading on Tuesday, hitting $15.67. 931,657 shares of the stock traded hands, compared to its average volume of 1,141,549. The business’s 50 day moving average price is $12.23 and its two-hundred day moving average price is $15.41. The firm has a market capitalization of $698.29 million, a PE ratio of -10.38 and a beta of 3.40. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its earnings results on Tuesday, April 21st. The company reported ($0.49) 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 firm had revenue of $27.63 million during the quarter. As a group, equities research analysts forecast that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Beta Bionics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after purchasing an additional 1,509,217 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Beta Bionics during the fourth quarter valued at about $40,437,000. Eversept Partners LP grew its holdings in Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after acquiring an additional 736,576 shares during the period. 12 West Capital Management LP acquired a new position in Beta Bionics during the fourth quarter worth about $17,520,000. Finally, Bruce & Co. Inc. bought a new stake in Beta Bionics in the first quarter worth about $5,518,000.

Analyst Ratings Changes

Several analysts have weighed in on BBNX shares. Wall Street Zen downgraded Beta Bionics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Bank of America decreased their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Stifel Nicolaus cut their price objective on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Leerink Partners reduced their price objective on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Finally, Truist Financial decreased their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.