Beta Bionics (NASDAQ:BBNX) Director Adam Lezack Sells 998 Shares

Beta Bionics, Inc. (NASDAQ:BBNX) Director Adam Lezack sold 998 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $11.21, for a total value of $11,187.58. Following the sale, the director directly owned 27,399 shares of the company’s stock, valued at $307,142.79. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Adam Lezack also recently made the following trade(s):

• On Thursday, May 21st, Adam Lezack sold 1,000 shares of Beta Bionics stock. The stock was sold at an average price of $9.95, for a total value of $9,950.00.

Beta Bionics Price Performance

BBNX opened at $11.72 on Wednesday. The business has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $17.93. The stock has a market capitalization of $522.24 million, a P/E ratio of -7.76 and a beta of 3.29. Beta Bionics, Inc. has a 12 month low of $8.80 and a 12 month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.04. The business had revenue of $27.63 million during the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. Research analysts anticipate that Beta Bionics, Inc. will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Beta Bionics

Several hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its stake in Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after purchasing an additional 450 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after purchasing an additional 931 shares in the last quarter. Deutsche Bank AG increased its stake in Beta Bionics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock valued at $1,197,000 after purchasing an additional 1,296 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Beta Bionics in the 4th quarter valued at approximately $52,000.

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird reduced their price target on Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Wall Street Zen cut Beta Bionics from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Leerink Partners reduced their price target on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Bank of America reduced their price target on Beta Bionics from $23.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Stifel Nicolaus reduced their price target on Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.