Beta Bionics (NASDAQ:BBNX) Insider Mike Mensinger Sells 4,375 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 4,375 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total value of $83,606.25. Following the sale, the insider owned 180,040 shares of the company’s stock, valued at $3,440,564.40. This represents a 2.37% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Price Performance

Beta Bionics stock opened at $19.92 on Friday. 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, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71. The stock’s 50-day moving average is $17.11 and its 200-day moving average is $13.61.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Wednesday, July 29th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $32.01 million during the quarter. Research analysts anticipate that Beta Bionics, Inc. will post -2.1 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BBNX shares. Truist Financial boosted their price objective on shares of Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group raised their target price on shares of Beta Bionics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. William Blair began coverage on shares of Beta Bionics in a report on Friday, August 21st. They set a “market perform” rating on the stock. Bank of America decreased their price target on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, UBS Group initiated coverage on Beta Bionics in a report on Tuesday, July 28th. They issued a “buy” rating and a $22.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Beta Bionics currently has an average rating of “Moderate Buy” and an average price target of $20.10.

Hedge Funds Weigh In On Beta Bionics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in Beta Bionics by 306.1% in the second quarter. California State Teachers Retirement System now owns 8,556 shares of the company’s stock valued at $134,000 after acquiring an additional 6,449 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Beta Bionics during the second quarter worth $8,566,000. Man Group plc purchased a new position in shares of Beta Bionics in the second quarter valued at $419,000. Legal & General Group Plc purchased a new position in shares of Beta Bionics in the second quarter valued at $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Beta Bionics during the 2nd quarter valued at $172,000.

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.