Insider Selling: Beta Bionics (NASDAQ:BBNX) Insider Sells $83,606.25 in Stock

Key Points

• Beta Bionics insider Mike Mensinger sold 4,375 shares for $83,606.25 at an average price of $19.11 to cover tax withholding tied to vested equity awards. He retained 180,040 shares after the transaction.
• BBNX shares rose 2.6% to $19.92, while the company reported quarterly revenue of $32.01 million and an adjusted loss of $0.53 per share, better than analysts’ expected loss of $0.62.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.10; seven rate the stock Buy, four Hold, and one Sell.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mike Mensinger sold 4,375 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total transaction of $83,606.25. Following the completion of the sale, the insider owned 180,040 shares in the company, valued at approximately $3,440,564.40. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Trading Up 2.6%

Shares of BBNX stock traded up $0.50 on Thursday, hitting $19.92. The stock had a trading volume of 1,403,531 shares, compared to its average volume of 1,146,397. Beta Bionics, Inc. has a twelve month low of $8.80 and a twelve month high of $32.71. The company has a fifty day moving average price of $17.03 and a two-hundred day moving average price of $13.57. The firm has a market cap of $896.20 million, a P/E ratio of -12.07 and a beta of 3.37.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The company had revenue of $32.01 million for the quarter. On average, analysts expect that Beta Bionics, Inc. will post -2.1 earnings per share for the current year.

Analyst Ratings Changes

BBNX has been the topic of a number of recent research reports. Truist Financial lifted their target price on Beta Bionics from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, July 13th. William Blair initiated coverage on shares of Beta Bionics in a research note on Friday, August 21st. They set a "market perform" rating for the company. Bank of America lowered their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, May 18th. The Goldman Sachs Group boosted their price objective on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Beta Bionics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Beta Bionics during the first quarter worth approximately $29,000. Summit Securities Group LLC acquired a new position in shares of Beta Bionics in the fourth quarter valued at approximately $52,000. Legal & General Group Plc increased its stake in shares of Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock worth $58,000 after purchasing an additional 2,639 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company's stock worth $61,000 after purchasing an additional 1,818 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Beta Bionics during the 1st quarter worth approximately $95,000.

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.

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