Beta Bionics (NASDAQ:BBNX) Reaches New 12-Month Low – Here’s What Happened

Beta Bionics, Inc. (NASDAQ:BBNX) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.00 and last traded at $18.20, with a volume of 181398 shares changing hands. The stock had previously closed at $20.98.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus initiated coverage on Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating and a $25.00 price objective on the stock. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Lake Street Capital began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating and a $30.00 price objective for the company. Piper Sandler began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Bank of America began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Stock Performance

Insider Buying and Selling at Beta Bionics

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

About Beta Bionics

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.