Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells 11,411 Shares of Stock

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 that occurred on Friday, September 5th. The stock was sold at an average price of $20.56, for a total transaction of $234,610.16. Following the sale, the insider owned 31,215 shares of the company's stock, valued at approximately $641,780.40. This represents a 26.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, September 4th, Mark Hopman sold 6,818 shares of Beta Bionics stock. The stock was sold at an average price of $19.97, for a total transaction 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 transaction 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 Stock Up 4.2%

NASDAQ BBNX traded up $1.07 during trading on Friday, reaching $26.41. 982,957 shares of the stock traded hands, compared to its average volume of 643,920. The stock's 50-day moving average price is $16.70 and its 200 day moving average price is $15.25. Beta Bionics, Inc. has a fifty-two week low of $8.89 and a fifty-two week high of $26.66.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The firm had revenue of $23.24 million for the quarter, compared to analyst estimates of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBNX. Alyeska Investment Group L.P. acquired a new position in Beta Bionics during the first quarter worth $918,000. Corebridge Financial Inc. acquired a new position in Beta Bionics during the first quarter worth $79,000. Bank of New York Mellon Corp acquired a new position in Beta Bionics during the first quarter worth $316,000. Nuveen LLC acquired a new position in Beta Bionics during the first quarter worth $209,000. Finally, Invesco Ltd. acquired a new position in Beta Bionics during the first quarter worth $202,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBNX. Wolfe Research began coverage on shares of Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective for the company. Truist Financial boosted their price objective on shares of Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Lake Street Capital started coverage on shares of Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price target for the company. The Goldman Sachs Group started coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price target for the company. Finally, Robert W. Baird set a $17.00 price target on shares of Beta Bionics and gave the company a "neutral" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.56.

About Beta Bionics

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.