Beta Bionics (NASDAQ:BBNX) Insider Steven Jon Russell Sells 4,221 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Russell sold 4,221 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $80,663.31. Following the completion of the transaction, the insider owned 169,628 shares in the company, valued at $3,241,591.08. This represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Stock Up 2.6%

Shares of NASDAQ BBNX opened at $19.92 on Friday. Beta Bionics, Inc. has a 52 week low of $8.80 and a 52 week high of $32.71. The firm’s fifty day moving average is $17.11 and its 200 day moving average is $13.61. The company has a market cap of $896.20 million, a price-to-earnings ratio of -12.07 and a beta of 3.37.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09. The company had revenue of $32.01 million during the quarter. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. Equities research analysts anticipate that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in shares of Beta Bionics in the 1st quarter worth about $29,000. Summit Securities Group LLC purchased a new position in shares of Beta Bionics during the fourth quarter valued at about $52,000. Legal & General Group Plc increased its position in shares of Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after buying an additional 2,639 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Beta Bionics by 1,075.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after buying an additional 1,818 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Beta Bionics in the first quarter worth about $95,000.

Analyst Upgrades and Downgrades

BBNX has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Beta Bionics in a research note on Tuesday, July 28th. They set a “buy” rating and a $22.00 price objective for the company. The Goldman Sachs Group raised their target price on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Truist Financial boosted their price target on Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, July 13th. William Blair initiated coverage on Beta Bionics in a research report on Friday, August 21st. They set a “market perform” rating for the company. Finally, Weiss Ratings upgraded Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently 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.