Beta Bionics (NASDAQ:BBNX) Trading Down 3% – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price dropped 3% during mid-day trading on Monday . The stock traded as low as $14.60 and last traded at $14.64. Approximately 100,121 shares traded hands during trading, a decline of 78% from the average daily volume of 453,908 shares. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBNX. Bank of America began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating on the stock. Lake Street Capital began coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating and a $30.00 target price on the stock. Leerink Partners started coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 price target for the company. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Finally, Piper Sandler started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued an “overweight” rating and a $26.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Trading Down 1.7 %

Insider Transactions at Beta Bionics

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