Beta Bionics (NASDAQ:BBNX) Insider Steven Jon Russell Sells 1,025 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Jon Russell sold 1,025 shares of the firm’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 $30,073.50. Following the sale, the insider owned 178,071 shares of the company’s stock, valued at $5,224,603.14. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Steven Jon Russell also recently made the following trade(s):

• On Monday, March 2nd, Steven Jon Russell sold 1,026 shares of Beta Bionics stock. The shares were sold at an average price of $12.36, for a total value of $12,681.36.

Beta Bionics Price Performance

NASDAQ BBNX opened at $10.87 on Tuesday. The company has a 50 day simple moving average of $15.15 and a 200-day simple moving average of $22.01. The firm has a market capitalization of $482.41 million, a price-to-earnings ratio of -5.57 and a beta of 5.59. Beta Bionics, Inc. has a 52-week low of $8.89 and a 52-week high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.12. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%. The business had revenue of $32.12 million during the quarter.

Institutional Trading of Beta Bionics

Large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC acquired a new stake in shares of Beta Bionics in the 3rd quarter valued at $4,423,000. Pura Vida Investments LLC boosted its holdings in Beta Bionics by 11,150.0% in the third quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock worth $5,588,000 after purchasing an additional 278,750 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Beta Bionics during the second quarter worth $13,817,000. First Eagle Investment Management LLC acquired a new position in Beta Bionics during the third quarter worth $4,634,000. Finally, Farallon Capital Management LLC lifted its position in shares of Beta Bionics by 2.6% in the third quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after buying an additional 110,000 shares during the last quarter.

Analyst Upgrades and Downgrades

BBNX has been the topic of several research analyst reports. UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 9th. Truist Financial cut their price objective on Beta Bionics from $37.00 to $25.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Beta Bionics in a research report on Monday, December 29th. Bank of America downgraded Beta Bionics from a “buy” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Beta Bionics in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Beta Bionics Company Profile

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.