Steven Jon Russell Sells 4,221 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Key Points

• Insider sale: Steven Jon Russell sold 4,221 Beta Bionics shares for approximately $80,663 to cover tax withholding tied to vested equity awards. He continues to own 169,628 shares directly.
• Stock performance and earnings: 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 $0.62 loss.
• Analyst outlook: Beta Bionics has a consensus “Moderate Buy” rating from analysts, with an average price target of $20.10; seven analysts rate it Buy, four Hold, and one Sell.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Steven Russell sold 4,221 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total value of $80,663.31. Following the completion of the transaction, the insider directly owned 169,628 shares of the company's stock, valued at $3,241,591.08. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 during trading hours on Thursday, hitting $19.92. The company's stock had a trading volume of 1,403,531 shares, compared to its average volume of 1,146,397. The business has a fifty day moving average of $17.03 and a 200-day moving average of $13.57. The stock has a market cap of $896.20 million, a price-to-earnings ratio of -12.07 and a beta of 3.37. Beta Bionics, Inc. has a twelve month low of $8.80 and a twelve month high of $32.71.

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

Wall Street Analyst Weigh In

BBNX has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Beta Bionics from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Beta Bionics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. UBS Group assumed coverage on shares of Beta Bionics in a research report on Tuesday, July 28th. They issued a "buy" rating and a $22.00 target price for the company. William Blair assumed coverage on shares of Beta Bionics in a research report on Friday, August 21st. They set a "market perform" rating on the stock. Finally, Bank of America lowered their price objective on Beta Bionics from $23.00 to $11.00 and set a "neutral" rating for the company in a report on Monday, May 18th. Seven 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BBNX. Perceptive Advisors LLC raised its stake in 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 acquiring an additional 240,000 shares during the period. BlackRock Inc. acquired a new position in Beta Bionics in the second quarter valued at approximately $52,340,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Beta Bionics in the fourth quarter valued at approximately $40,437,000. Bruce & Co. Inc. bought a new position in shares of Beta Bionics during the first quarter valued at approximately $5,518,000. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Beta Bionics by 4,236.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 485,854 shares of the company's stock worth $4,868,000 after purchasing an additional 474,651 shares during the period.

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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