Insider Selling: Beta Bionics, Inc. (NASDAQ:BBNX) Insider Sells 1,039 Shares of Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Steven Jon Russell sold 1,039 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $18,587.71. Following the sale, the insider now directly owns 72,032 shares of the company’s stock, valued at approximately $1,288,652.48. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Beta Bionics Stock Up 0.5%

Shares of Beta Bionics stock opened at $19.55 on Friday. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $24.50. The stock has a fifty day simple moving average of $12.90.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.01).

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BBNX shares. Baird R W raised Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Piper Sandler began coverage on Beta Bionics in a report on Monday, February 24th. They issued an “overweight” rating and a $26.00 target price on the stock. LADENBURG THALM/SH SH started coverage on Beta Bionics in a research report on Thursday, February 20th. They set a “neutral” rating and a $20.00 target price on the stock. The Goldman Sachs Group initiated coverage on Beta Bionics in a research report on Friday, May 30th. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Lake Street Capital began coverage on Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Institutional Trading of Beta Bionics

A number of hedge funds have recently made changes to their positions in BBNX. Eventide Asset Management LLC purchased a new position in Beta Bionics during the first quarter valued at approximately $60,307,000. Wellington Management Group LLP purchased a new position in shares of Beta Bionics during the 1st quarter valued at $47,346,000. Sands Capital Ventures LLC acquired a new position in shares of Beta Bionics in the first quarter worth $37,990,000. Omega Fund Management LLC acquired a new position in shares of Beta Bionics in the first quarter worth $24,337,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Beta Bionics during the first quarter worth $10,799,000.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.