Beta Bionics (NASDAQ:BBNX) Shares Down 5.7% – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNX) shares dropped 5.7% during mid-day trading on Monday . The company traded as low as $21.99 and last traded at $22.17. Approximately 90,813 shares changed hands during trading, a decline of 82% from the average daily volume of 510,178 shares. The stock had previously closed at $23.50.

Beta Bionics Stock Down 2.5 %

Insider Activity at Beta Bionics

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