Insider Selling: Beta Bionics (NASDAQ:BBNX) CFO Sells 6,675 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) CFO Stephen Feider sold 6,675 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total value of $127,559.25. Following the sale, the chief financial officer owned 159,378 shares of the company’s stock, valued at $3,045,713.58. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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 transaction of $83,378.88.
• On Friday, June 26th, Stephen Feider sold 5,104 shares of Beta Bionics stock. The shares were sold at an average price of $17.05, for a total transaction of $87,023.20.

Beta Bionics Stock Up 2.6%

Shares of NASDAQ:BBNX traded up $0.50 during trading on Thursday, hitting $19.92. 1,403,531 shares of the company were exchanged, compared to its average volume of 1,146,397. The company has a market capitalization of $896.20 million, a P/E ratio of -12.07 and a beta of 3.37. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71. The business’s 50 day moving average is $17.03 and its 200-day moving average is $13.57.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The company had revenue of $32.01 million for the quarter. As a group, sell-side analysts anticipate that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Institutional Investors Weigh In On Beta Bionics

A number of hedge funds have recently added to or reduced their stakes in BBNX. California State Teachers Retirement System grew its position in shares of Beta Bionics by 306.1% during the 2nd quarter. California State Teachers Retirement System now owns 8,556 shares of the company’s stock worth $134,000 after buying an additional 6,449 shares during the period. Bank of America Corp DE acquired a new stake in shares of Beta Bionics in the 2nd quarter valued at about $8,566,000. Man Group plc bought a new stake in Beta Bionics in the 2nd quarter valued at about $419,000. Legal & General Group Plc acquired a new position in Beta Bionics during the 2nd quarter worth approximately $62,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Beta Bionics during the 2nd quarter worth approximately $172,000.

Wall Street Analysts Forecast Growth

BBNX has been the subject of several recent research reports. Truist Financial upped their price target on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. UBS Group began coverage on Beta Bionics in a report on Tuesday, July 28th. They issued a “buy” rating and a $22.00 price objective for the company. William Blair began coverage on Beta Bionics in a research report on Friday, August 21st. They set a “market perform” rating for the company. Finally, Bank of America cut their target price on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.10.

About Beta Bionics

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.