Key Points
- Insider sale: Mike Mensinger sold 1,063 shares at an average price of $29.34 on Dec. 2 for $31,188.42, trimming his stake by 1.16% to 90,752 shares (SEC filing).
- Company performance: Shares traded around $29.56 (market cap ~$1.30B) after the company reported EPS of ($0.33) beating estimates and revenue of $27.25M, but it remains unprofitable with a negative net margin of ~87.9%.
- Analyst view: The consensus rating is a “Moderate Buy” with a $28.22 average price target, while individual firm targets range roughly from $23 to $35 and several institutions have recently taken positions.
Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mike Mensinger sold 1,063 shares of the business's stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total value of $31,188.42. Following the sale, the insider directly owned 90,752 shares of the company's stock, valued at $2,662,663.68. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Beta Bionics Stock Performance
Beta Bionics stock traded down $0.44 during trading hours on Friday, reaching $29.56. 78,002 shares of the company's stock traded hands, compared to its average volume of 609,718. The firm has a market capitalization of $1.30 billion and a price-to-earnings ratio of -6.76. Beta Bionics, Inc. has a fifty-two week low of $8.89 and a fifty-two week high of $32.71. The firm's 50 day moving average is $25.15 and its 200-day moving average is $20.01.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.12. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%. The business had revenue of $27.25 million during the quarter, compared to the consensus estimate of $23.92 million.
Wall Street Analyst Weigh In
BBNX has been the topic of several recent research reports. Lake Street Capital restated a "buy" rating and issued a $35.00 price target on shares of Beta Bionics in a research report on Wednesday, October 29th. Robert W. Baird set a $23.00 target price on Beta Bionics in a research note on Wednesday, October 29th. Wall Street Zen upgraded Beta Bionics from a "strong sell" rating to a "hold" rating in a report on Saturday, November 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $32.00 price target (up from $26.00) on shares of Beta Bionics in a research note on Wednesday, October 29th. Finally, Truist Financial reiterated a "buy" rating and issued a $32.00 price target (up from $28.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.22.
Read Our Latest Analysis on Beta Bionics
Institutional Trading of Beta Bionics
Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. acquired a new position in shares of Beta Bionics in the first quarter valued at approximately $1,244,000. Deutsche Bank AG bought a new stake in Beta Bionics in the 1st quarter valued at $148,000. Invesco Ltd. bought a new stake in Beta Bionics in the 1st quarter valued at $202,000. Nuveen LLC acquired a new position in Beta Bionics in the 1st quarter worth $209,000. Finally, Lord Abbett & CO. LLC bought a new position in Beta Bionics during the 1st quarter worth about $2,793,000.
About Beta Bionics
(
Get Free Report)
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.
Further Reading
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