Omega Fund Management LLC Sells 603,942 Shares of Beta Bionics, Inc. $BBNX

Omega Fund Management LLC lessened its position in shares of Beta Bionics, Inc. (NASDAQ:BBNX) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,316,183 shares of the company’s stock after selling 603,942 shares during the quarter. Beta Bionics makes up 14.0% of Omega Fund Management LLC’s holdings, making the stock its 3rd biggest position. Omega Fund Management LLC owned about 2.99% of Beta Bionics worth $40,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eventide Asset Management LLC grew its position in shares of Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after purchasing an additional 37,476 shares during the period. Farallon Capital Management LLC grew its position in shares of Beta Bionics by 2.6% in the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock valued at $85,718,000 after purchasing an additional 110,000 shares during the period. Soleus Capital Management L.P. grew its position in shares of Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after purchasing an additional 424,817 shares during the period. Vanguard Group Inc. grew its position in shares of Beta Bionics by 213.5% in the third 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Beta Bionics in the fourth quarter valued at about $40,437,000.

Beta Bionics Trading Down 3.0%

NASDAQ:BBNX opened at $13.95 on Wednesday. The company’s 50-day moving average price is $11.48 and its 200-day moving average price is $16.35. The company has a market cap of $621.61 million, a P/E ratio of -9.24 and a beta of 3.40. Beta Bionics, Inc. has a twelve month low of $8.80 and a twelve month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.04. The firm had revenue of $27.63 million for the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. On average, analysts expect that Beta Bionics, Inc. will post -2.22 earnings per share for the current year.

Analyst Ratings Changes

BBNX has been the topic of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Beta Bionics from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Bank of America dropped their target price on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Lake Street Capital set a $20.00 target price on shares of Beta Bionics in a research report on Wednesday, February 18th. Leerink Partners dropped their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.70.

Insider Transactions at Beta Bionics

In other news, insider Mark Hopman sold 5,329 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total value of $67,198.69. Following the transaction, the insider directly owned 130,887 shares of the company’s stock, valued at approximately $1,650,485.07. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mike Mensinger sold 4,378 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $12.61, for a total transaction of $55,206.58. Following the completion of the transaction, the insider directly owned 184,415 shares in the company, valued at approximately $2,325,473.15. This represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 27,687 shares of company stock valued at $343,586. Company insiders own 5.30% of the company’s stock.

Beta Bionics 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.