Beta Bionics (NASDAQ:BBNX) Insider Mark Hopman Sells 11,411 Shares

Key Points

• Insider Mark Hopman sold 11,411 shares of Beta Bionics at an average price of $20.56, resulting in a total transaction value of $234,610.16, decreasing his ownership by 26.77%.
• Beta Bionics' stock recently traded at $23.13, with a significant 52-week range between $8.89 and $24.50.
• Analysts have given Beta Bionics a consensus rating of "Moderate Buy," with a target price averaging $22.56, indicating positive market sentiment.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mark Hopman sold 11,411 shares of Beta Bionics stock in a transaction on Friday, September 5th. The shares were sold at an average price of $20.56, for a total value of $234,610.16. Following the transaction, the insider owned 31,215 shares in the company, valued at approximately $641,780.40. This trade represents a 26.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mark Hopman also recently made the following trade(s):

• On Thursday, September 4th, Mark Hopman sold 6,818 shares of Beta Bionics stock. The shares were sold at an average price of $19.97, for a total value of $136,155.46.
• On Tuesday, September 2nd, Mark Hopman sold 848 shares of Beta Bionics stock. The stock was sold at an average price of $18.86, for a total value of $15,993.28.
• On Tuesday, August 19th, Mark Hopman sold 16,158 shares of Beta Bionics stock. The stock was sold at an average price of $16.61, for a total transaction of $268,384.38.

Beta Bionics Price Performance

NASDAQ BBNX traded up $2.93 on Monday, reaching $23.13. The company's stock had a trading volume of 1,372,914 shares, compared to its average volume of 561,428. Beta Bionics, Inc. has a twelve month low of $8.89 and a twelve month high of $24.50. The firm's 50 day moving average is $15.77 and its two-hundred day moving average is $15.07.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.12. The business had revenue of $23.24 million during the quarter, compared to the consensus estimate of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Beta Bionics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eventide Asset Management LLC bought a new stake in Beta Bionics in the 1st quarter valued at $60,307,000. Wellington Management Group LLP acquired a new stake in Beta Bionics during the first quarter valued at approximately $47,346,000. Soleus Capital Management L.P. boosted its holdings in Beta Bionics by 12.5% during 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 in the last quarter. Sands Capital Alternatives LLC grew its stake in shares of Beta Bionics by 15.0% in the 2nd quarter. Sands Capital Alternatives LLC now owns 3,570,113 shares of the company's stock valued at $51,981,000 after purchasing an additional 466,331 shares during the period. Finally, Sands Capital Ventures LLC acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $37,990,000.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial upped their price target on Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Beta Bionics in a report on Friday, May 30th. They set a "neutral" rating and a $16.00 price target on the stock. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wolfe Research initiated coverage on Beta Bionics in a research note on Friday, May 30th. They set an "outperform" rating and a $20.00 price target for the company. Finally, Lake Street Capital assumed coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Beta Bionics currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.

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