Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells $30,073.50 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Jon Russell sold 1,025 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total transaction of $30,073.50. Following the completion of the transaction, the insider owned 178,071 shares in the company, valued at approximately $5,224,603.14. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Steven Jon Russell also recently made the following trade(s):

• On Monday, March 2nd, Steven Jon Russell sold 1,026 shares of Beta Bionics stock. The shares were sold at an average price of $12.36, for a total transaction of $12,681.36.

Beta Bionics Stock Down 0.1%

Shares of NASDAQ BBNX opened at $10.63 on Thursday. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $32.71. The firm has a market cap of $471.76 million, a P/E ratio of -5.45 and a beta of 5.60. The company has a 50 day moving average of $14.31 and a 200 day moving average of $21.88.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.12. The business had revenue of $32.12 million for the quarter. Beta Bionics had a negative return on equity of 20.29% and a negative net margin of 73.02%.

Institutional Investors Weigh In On Beta Bionics

A number of large investors have recently made changes to their positions in BBNX. Essex Investment Management Co. LLC bought a new position in shares of Beta Bionics in the 3rd quarter worth approximately $4,423,000. Pura Vida Investments LLC grew its position in Beta Bionics by 11,150.0% during the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock valued at $5,588,000 after buying an additional 278,750 shares during the period. Divisadero Street Capital Management LP bought a new stake in Beta Bionics during the second quarter valued at approximately $13,817,000. Farallon Capital Management LLC increased its holdings in Beta Bionics by 2.6% during the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after buying an additional 110,000 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in Beta Bionics during the third quarter valued at approximately $4,634,000.

Wall Street Analyst Weigh In

Several research firms recently commented on BBNX. TD Cowen began coverage on Beta Bionics in a research report on Monday, January 26th. They set a “hold” rating and a $17.00 price objective on the stock. Lake Street Capital set a $20.00 target price on Beta Bionics in a research report on Wednesday, February 18th. Wall Street Zen cut shares of Beta Bionics from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Robert W. Baird dropped their price target on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Stifel Nicolaus reduced their price target on shares of Beta Bionics from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average target price of $23.20.

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.