Beta Bionics (NASDAQ:BBNX) Sets New 12-Month Low – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.33 and last traded at $21.43, with a volume of 47071 shares trading hands. The stock had previously closed at $21.81.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird began coverage on shares of Beta Bionics in a research note on Thursday. They issued a “neutral” rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH started coverage on shares of Beta Bionics in a research report on Thursday. They set a “neutral” rating and a $20.00 target price on the stock.

Beta Bionics Price Performance

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger bought 33,350 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the purchase, the insider now directly owns 59,019 shares of the company’s stock, valued at approximately $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the acquisition, the insider now directly owns 3,901,599 shares in the company, valued at approximately $66,327,183. This represents a 34.46 % increase in their position. The disclosure for this purchase can be found here.

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.