Key Points
- Insider sale: Steven Russell sold 4,221 Beta Bionics shares for approximately $80,663 at an average price of $19.11. The sale covered tax-withholding obligations tied to vested equity awards, and he retained 169,628 shares.
- Stock performance and financials: BBNX opened at $19.92, up 2.6%, with a market capitalization of about $896 million. Beta Bionics reported quarterly revenue of $32.01 million and an adjusted loss of $0.53 per share, better than analysts’ expected $0.62 loss.
- Analyst outlook: Analysts hold a consensus “Moderate Buy” rating, with an average price target of $20.10; seven rate the stock Buy, four Hold, and one Sell. Recent targets range from $11 to $22.
Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Steven Russell sold 4,221 shares of Beta Bionics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total value of $80,663.31. Following the sale, the insider owned 169,628 shares in the company, valued at $3,241,591.08. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Beta Bionics Stock Up 2.6%
Shares of BBNX stock opened at $19.92 on Friday. The business's fifty day moving average is $17.11 and its 200 day moving average is $13.61. The stock has a market cap of $896.20 million, a price-to-earnings ratio of -12.07 and a beta of 3.37. Beta Bionics, Inc. has a twelve month low of $8.80 and a twelve month high of $32.71.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative return on equity of 26.30% and a negative net margin of 61.31%.The business had revenue of $32.01 million during the quarter. Equities research analysts expect that Beta Bionics, Inc. will post -2.1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Beta Bionics
A number of hedge funds have recently bought and sold shares of BBNX. California State Teachers Retirement System grew its position in Beta Bionics by 306.1% during the 2nd quarter. California State Teachers Retirement System now owns 8,556 shares of the company's stock valued at $134,000 after purchasing an additional 6,449 shares during the last quarter. Bank of America Corp DE purchased a new position in Beta Bionics in the second quarter worth about $8,566,000. Man Group plc purchased a new position in Beta Bionics in the second quarter worth about $419,000. Legal & General Group Plc bought a new position in shares of Beta Bionics in the second quarter worth approximately $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Beta Bionics in the second quarter worth approximately $172,000.
Wall Street Analyst Weigh In
Several research firms recently commented on BBNX. The Goldman Sachs Group boosted their price objective on shares of Beta Bionics from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Bank of America decreased their target price on shares of Beta Bionics from $23.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, May 18th. Weiss Ratings upgraded shares of Beta Bionics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 18th. William Blair began coverage on Beta Bionics in a research report on Friday, August 21st. They issued a "market perform" rating on the stock. Finally, Truist Financial upped their price target on Beta Bionics from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.10.
Check Out Our Latest Analysis on BBNX
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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