Beta Bionics (NASDAQ:BBNX) Stock: Insider Stephen Feider Sells 744 Shares

Key Points

• CFO Stephen Feider sold 744 shares at an average of $17, worth $12,648, reducing his stake by 0.46%; he still directly owns 159,378 shares.
• Beta Bionics reported quarterly revenue of $35.51 million and a loss of $0.52 per share, slightly better than analysts’ expected loss of $0.53.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $23.69; shares recently traded at $16.51.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) CFO Stephen Feider sold 744 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $17.00, for a total value of $12,648.00. Following the completion of the sale, the chief financial officer directly owned 159,378 shares in the company, valued at approximately $2,709,426. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Stephen Feider also recently made the following trade(s):

• On Thursday, November 5th, Stephen Feider sold 382 shares of Beta Bionics stock. The stock was sold at an average price of $17.04, for a total value of $6,509.28.
• On Wednesday, September 2nd, Stephen Feider sold 6,675 shares of Beta Bionics stock. The stock was sold at an average price of $19.11, for a total value of $127,559.25.

Beta Bionics Stock Performance

Shares of BBNX traded down $1.30 during midday trading on Thursday, hitting $16.51. 982,435 shares of the stock were exchanged, compared to its average volume of 1,178,125. Beta Bionics, Inc. has a 52-week low of $8.80 and a 52-week high of $32.71. The stock has a fifty day simple moving average of $18.60 and a 200 day simple moving average of $14.85. The firm has a market cap of $897.60 million, a P/E ratio of -8.97 and a beta of 3.44.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.53) by $0.01. Beta Bionics had a negative return on equity of 27.33% and a negative net margin of 65.31%. The business had revenue of $35.51 million during the quarter. As a group, equities research analysts forecast that Beta Bionics, Inc. will post -2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Beta Bionics in the 2nd quarter valued at about $52,340,000. Eversept Partners LP grew its position in shares of Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company's stock worth $14,177,000 after buying an additional 736,576 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Beta Bionics by 39.8% during the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company's stock worth $8,446,000 after buying an additional 240,000 shares in the last quarter. Bruce & Co. Inc. purchased a new stake in shares of Beta Bionics during the first quarter worth approximately $5,518,000. Finally, Bank of America Corp DE purchased a new stake in shares of Beta Bionics during the second quarter worth approximately $8,566,000.

Analyst Upgrades and Downgrades

BBNX has been the subject of several research reports. Bank of America lifted their target price on Beta Bionics from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, September 15th. Robert W. Baird raised their price objective on shares of Beta Bionics from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Tuesday, September 15th. Piper Sandler reissued an "overweight" rating and issued a $24.00 price objective (up from $20.00) on shares of Beta Bionics in a research note on Wednesday, October 28th. William Blair assumed coverage on shares of Beta Bionics in a report on Friday, August 21st. They issued a "market perform" rating for the company. Finally, Truist Financial upped their target price on shares of Beta Bionics from $23.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Beta Bionics presently has an average rating of "Moderate Buy" and an average price target of $23.69.

Beta Bionics Company Profile

Beta Bionics, Inc. develops medical technology for people with insulin-dependent diabetes. Its main product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to help manage blood glucose levels with less manual adjustment by users. The iLet system combines an insulin pump with dosing software that works with a continuous glucose monitor. Rather than requiring users to enter detailed insulin settings, it is initialized using the user's body weight and adjusts insulin delivery based on glucose readings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.