Steven Jon Russell Sells 4,221 Shares of Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Russell sold 4,221 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.11, for a total value of $80,663.31. Following the completion of the sale, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Beta Bionics Stock Up 2.6%

BBNX stock traded up $0.50 during mid-day trading on Thursday, reaching $19.92. The company had a trading volume of 1,403,531 shares, compared to its average volume of 1,146,397. Beta Bionics, Inc. has a one year low of $8.80 and a one year high of $32.71. The stock has a market capitalization of $896.20 million, a P/E ratio of -12.07 and a beta of 3.37. The stock’s 50-day simple moving average is $17.03 and its two-hundred day simple moving average is $13.57.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.09. Beta Bionics had a negative net margin of 61.31% and a negative return on equity of 26.30%. The business had revenue of $32.01 million during the quarter. On average, research analysts forecast that Beta Bionics, Inc. will post -2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BBNX. UBS Group assumed coverage on Beta Bionics in a research note on Tuesday, July 28th. They set a “buy” rating and a $22.00 target price on the stock. Bank of America cut their price objective on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. William Blair assumed coverage on shares of Beta Bionics in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Truist Financial raised their target price on shares of Beta Bionics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus price target of $20.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BBNX. Charles Schwab Investment Management Inc. increased its holdings in shares of Beta Bionics by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after buying an additional 931 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Beta Bionics by 3.4% during the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,296 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Beta Bionics during the 4th quarter worth $52,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Beta Bionics by 1,075.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,987 shares of the company’s stock worth $61,000 after acquiring an additional 1,818 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Beta Bionics by 4.0% in the 3rd quarter. Verition Fund Management LLC now owns 47,299 shares of the company’s stock worth $940,000 after acquiring an additional 1,823 shares during the last quarter.

About Beta Bionics

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.