Key Points
- Beta Bionics insider Mark Hopman sold 1,258 shares on June 24 at an average price of $15.01, generating $18,882.58. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Hopman has been actively trimming his stake, including additional sales earlier in June of 275 shares and 5,329 shares for $3,385.25 and $67,198.69, respectively.
- Analysts remain cautiously positive on BBNX, with a consensus rating of “Moderate Buy” and an average price target of $19.70, even as several firms recently cut their targets. The company also reported a narrower-than-expected quarterly loss in its latest earnings release.
Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mark Hopman sold 1,258 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $15.01, for a total transaction of $18,882.58. Following the completion of the transaction, the insider owned 129,354 shares of the company's stock, valued at approximately $1,941,603.54. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Hopman also recently made the following trade(s):
- On Thursday, June 4th, Mark Hopman sold 275 shares of Beta Bionics stock. The shares were sold at an average price of $12.31, for a total value of $3,385.25.
- On Tuesday, June 2nd, Mark Hopman sold 5,329 shares of Beta Bionics stock. The shares were sold at an average price of $12.61, for a total value of $67,198.69.
Beta Bionics Stock Performance
Shares of NASDAQ BBNX opened at $15.91 on Friday. The firm has a market cap of $708.95 million, a PE ratio of -10.54 and a beta of 3.40. The firm has a fifty day moving average of $12.05 and a 200 day moving average of $15.57. Beta Bionics, Inc. has a one year low of $8.80 and a one 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 firm had revenue of $27.63 million during the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. On average, equities analysts predict that Beta Bionics, Inc. will post -2.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
BBNX has been the topic of several research reports. Leerink Partners decreased their target price on Beta Bionics from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Bank of America dropped their price target on Beta Bionics from $23.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday, May 18th. Truist Financial reduced their price objective on Beta Bionics from $25.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. The Goldman Sachs Group decreased their price objective on Beta Bionics from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Beta Bionics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.70.
View Our Latest Research Report on Beta Bionics
Institutional Investors Weigh In On Beta Bionics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Beta Bionics during the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its position in Beta Bionics by 203.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company's stock valued at $47,000 after buying an additional 1,594 shares during the last quarter. Summit Securities Group LLC acquired a new position in Beta Bionics in the fourth quarter valued at about $52,000. Legal & General Group Plc boosted its stake in Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock worth $58,000 after buying an additional 2,639 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Beta Bionics by 1,075.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company's stock worth $61,000 after buying an additional 1,818 shares during the period.
About Beta Bionics
(
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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