Beta Bionics (NASDAQ:BBNX) Stock: Insider Stephen Feider Sells 744 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) CFO Stephen Feider sold 744 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $17.00, for a total value of $12,648.00. Following the completion of the sale, the chief financial officer directly owned 159,378 shares in the company, valued at approximately $2,709,426. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Stephen Feider also recently made the following trade(s):

• On Thursday, November 5th, Stephen Feider sold 382 shares of Beta Bionics stock. The stock was sold at an average price of $17.04, for a total value of $6,509.28.
• On Wednesday, September 2nd, Stephen Feider sold 6,675 shares of Beta Bionics stock. The stock was sold at an average price of $19.11, for a total value of $127,559.25.

Beta Bionics Stock Performance

Shares of BBNX traded down $1.30 during midday trading on Thursday, hitting $16.51. 982,435 shares of the stock were exchanged, compared to its average volume of 1,178,125. Beta Bionics, Inc. has a 52-week low of $8.80 and a 52-week high of $32.71. The stock has a fifty day simple moving average of $18.60 and a 200 day simple moving average of $14.85. The firm has a market cap of $897.60 million, a P/E ratio of -8.97 and a beta of 3.44.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.01. Beta Bionics had a negative return on equity of 27.33% and a negative net margin of 65.31%. The business had revenue of $35.51 million during the quarter. As a group, equities research analysts forecast that Beta Bionics, Inc. will post -2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Beta Bionics in the 2nd quarter valued at about $52,340,000. Eversept Partners LP grew its position in shares of Beta Bionics by 108.6% during the first quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after buying an additional 736,576 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Beta Bionics by 39.8% during the first quarter. Perceptive Advisors LLC now owns 842,944 shares of the company’s stock worth $8,446,000 after buying an additional 240,000 shares in the last quarter. Bruce & Co. Inc. purchased a new stake in shares of Beta Bionics during the first quarter worth approximately $5,518,000. Finally, Bank of America Corp DE purchased a new stake in shares of Beta Bionics during the second quarter worth approximately $8,566,000.

Analyst Upgrades and Downgrades

BBNX has been the subject of several research reports. Bank of America lifted their target price on Beta Bionics from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, September 15th. Robert W. Baird raised their price objective on shares of Beta Bionics from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, September 15th. Piper Sandler reissued an “overweight” rating and issued a $24.00 price objective (up from $20.00) on shares of Beta Bionics in a research note on Wednesday, October 28th. William Blair assumed coverage on shares of Beta Bionics in a report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Truist Financial upped their target price on shares of Beta Bionics from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Beta Bionics presently has an average rating of “Moderate Buy” and an average price target of $23.69.

Beta Bionics Company Profile

Beta Bionics, Inc. develops medical technology for people with insulin-dependent diabetes. Its main product is the iLet Bionic Pancreas, an automated insulin-delivery system designed to help manage blood glucose levels with less manual adjustment by users. The iLet system combines an insulin pump with dosing software that works with a continuous glucose monitor. Rather than requiring users to enter detailed insulin settings, it is initialized using the user’s body weight and adjusts insulin delivery based on glucose readings.