Key Points
- Beta Bionics director Adam Lezack sold 998 shares on May 22 at an average price of $11.21, totaling about $11,187.58. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Lezack also sold 1,000 shares the previous day at an average price of $9.95, indicating recent insider selling activity at Beta Bionics.
- The company’s stock opened at $11.72, while analysts currently maintain a Moderate Buy consensus with a $20.00 price target. Beta Bionics recently beat quarterly EPS expectations, though it still reported a loss and weak margins.
Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) Director Adam Lezack sold 998 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $11.21, for a total value of $11,187.58. Following the completion of the transaction, the director directly owned 27,399 shares of the company's stock, valued at $307,142.79. The trade was a 3.51% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adam Lezack also recently made the following trade(s):
- On Thursday, May 21st, Adam Lezack sold 1,000 shares of Beta Bionics stock. The shares were sold at an average price of $9.95, for a total value of $9,950.00.
Beta Bionics Price Performance
NASDAQ BBNX opened at $11.72 on Wednesday. The business has a 50 day moving average price of $10.65 and a 200 day moving average price of $17.93. The company has a market capitalization of $522.24 million, a P/E ratio of -7.76 and a beta of 3.29. Beta Bionics, Inc. has a 1-year low of $8.80 and a 1-year high of $32.71.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.04. The company had revenue of $27.63 million during the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. On average, research analysts expect that Beta Bionics, Inc. will post -2.19 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Beta Bionics
Several hedge funds have recently made changes to their positions in the business. GPS Wealth Strategies Group LLC boosted its holdings in shares of Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company's stock worth $29,000 after purchasing an additional 450 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Beta Bionics by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company's stock worth $10,105,000 after purchasing an additional 931 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Beta Bionics by 3.4% during the fourth quarter. Deutsche Bank AG now owns 39,300 shares of the company's stock worth $1,197,000 after purchasing an additional 1,296 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Beta Bionics by 203.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company's stock worth $47,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Beta Bionics during the fourth quarter worth $52,000.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BBNX. Wall Street Zen downgraded Beta Bionics from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Lake Street Capital set a $20.00 price target on Beta Bionics in a research report on Wednesday, February 18th. Robert W. Baird dropped their price target on Beta Bionics from $28.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, February 18th. Truist Financial dropped their price target on Beta Bionics from $25.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group dropped their price target on Beta Bionics from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Beta Bionics presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.
View Our Latest Stock Analysis on BBNX
Beta Bionics Company Profile
(
Get Free Report)
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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