Beta Bionics, Inc. (NASDAQ:BBNX – Get Free Report) insider Mark Hopman sold 5,327 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.11, for a total value of $101,798.97. Following the completion of the transaction, the insider owned 124,027 shares in the company, valued at approximately $2,370,155.97. The trade was a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Mark Hopman also recently made the following trade(s):
- On Wednesday, June 24th, Mark Hopman sold 1,258 shares of Beta Bionics stock. The shares were sold at an average price of $15.01, for a total value of $18,882.58.
Beta Bionics Price Performance
NASDAQ:BBNX opened at $19.92 on Friday. The company has a market capitalization of $896.20 million, a P/E ratio of -12.07 and a beta of 3.37. The business has a fifty day simple moving average of $17.11 and a two-hundred day simple moving average of $13.61. Beta Bionics, Inc. has a 1 year low of $8.80 and a 1 year high of $32.71.
Hedge Funds Weigh In On Beta Bionics
Large investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC increased its position in shares of Beta Bionics by 0.8% in the fourth quarter. Eventide Asset Management LLC now owns 4,994,728 shares of the company’s stock valued at $152,233,000 after acquiring an additional 37,476 shares during the period. Soleus Capital Management L.P. raised its holdings in shares of Beta Bionics by 12.5% during the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after acquiring an additional 424,817 shares in the last quarter. BlackRock Inc. purchased a new stake in Beta Bionics in the second quarter worth $52,340,000. Vanguard Group Inc. boosted its holdings in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after acquiring an additional 1,509,217 shares in the last quarter. Finally, Eversept Partners LP lifted its position in shares of Beta Bionics by 108.6% in the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock worth $14,177,000 after purchasing an additional 736,576 shares during the period.
Analyst Ratings Changes
A number of equities research analysts have issued reports on BBNX shares. William Blair assumed coverage on shares of Beta Bionics in a report on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings upgraded Beta Bionics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Truist Financial raised their target price on Beta Bionics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Bank of America reduced their target price 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, UBS Group began coverage on shares of Beta Bionics in a report on Tuesday, July 28th. They issued a “buy” rating and a $22.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.10.
Check Out Our Latest Research Report on Beta Bionics
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.
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