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

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 on Thursday, September 4th. The stock was sold at an average price of $19.97, for a total transaction of $136,155.46. Following the transaction, the insider directly owned 31,215 shares of the company's stock, valued at $623,363.55. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction 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 transaction 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 transaction of $268,384.38.

Beta Bionics Stock Up 4.2%

Shares of BBNX traded up $1.07 during trading hours on Friday, reaching $26.41. 982,957 shares of the company traded hands, compared to its average volume of 643,920. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $26.66. The stock's fifty day moving average price is $16.70 and its 200 day moving average price is $15.25.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its earnings results 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 company 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 subject of a number of recent analyst reports. Robert W. Baird set a $17.00 target price on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Truist Financial boosted their target price on shares of Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wolfe Research initiated coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set an "outperform" rating and a $20.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set a "neutral" rating and a $16.00 target price for the company. Finally, Lake Street Capital assumed coverage on Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Beta Bionics has a consensus rating of "Moderate Buy" and an average target price of $22.56.

Institutional Trading of Beta Bionics

Institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in shares of Beta Bionics in the first quarter valued at about $918,000. Corebridge Financial Inc. bought a new stake in shares of Beta Bionics in the first quarter valued at about $79,000. Bank of New York Mellon Corp bought a new position in Beta Bionics in the first quarter worth about $316,000. Nuveen LLC bought a new position in Beta Bionics in the first quarter worth about $209,000. Finally, Invesco Ltd. bought a new position in Beta Bionics in the first quarter worth about $202,000.

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.