Mark Hopman Sells 6,818 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Key Points

• Mark Hopman, an insider at Beta Bionics, sold a total of 6,818 shares on September 4th for $136,155.46, reducing his ownership by 17.93% to 31,215 shares.
• Beta Bionics stock saw a significant 14.5% increase during trading on Monday, reaching $23.13, with trading volume surpassing average levels.
• The company reported better-than-expected quarterly earnings, with an EPS of ($0.39) against a consensus estimate of ($0.51), along with revenue of $23.24 million compared to expectations of $19.73 million.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mark Hopman sold 6,818 shares of Beta Bionics stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $19.97, for a total value of $136,155.46. Following the transaction, the insider owned 31,215 shares of the company's stock, valued at $623,363.55. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, September 5th, Mark Hopman sold 11,411 shares of Beta Bionics stock. The stock was sold at an average price of $20.56, for a total value of $234,610.16.
• 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 shares were sold at an average price of $16.61, for a total value of $268,384.38.

Beta Bionics Trading Up 14.5%

Beta Bionics stock traded up $2.93 during midday trading on Monday, reaching $23.13. 1,372,914 shares of the company were exchanged, compared to its average volume of 561,428. Beta Bionics, Inc. has a 1 year low of $8.89 and a 1 year high of $24.50. The firm's 50-day simple moving average is $15.77 and its 200-day simple moving average is $15.07.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Beta Bionics

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers acquired a new stake in shares of Beta Bionics during the first quarter valued at about $158,000. Evanson Asset Management LLC bought a new stake in Beta Bionics during the first quarter valued at $475,000. Bank of New York Mellon Corp bought a new stake in shares of Beta Bionics during the 1st quarter valued at about $316,000. Values First Advisors Inc. acquired a new stake in shares of Beta Bionics during the 1st quarter worth approximately $457,000. Finally, Jennison Associates LLC bought a new stake in Beta Bionics in the first quarter valued at $828,000.

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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