Beta Bionics (NASDAQ:BBNX) Sets New 1-Year Low – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $15.41 and last traded at $15.59, with a volume of 84433 shares trading hands. The stock had previously closed at $16.14.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BBNX shares. Leerink Partners began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “outperform” rating and a $28.00 target price on the stock. Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Robert W. Baird initiated coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Piper Sandler initiated coverage on Beta Bionics in a research report on Monday, February 24th. They set an “overweight” rating and a $26.00 price target for the company. Finally, LADENBURG THALM/SH SH initiated coverage on Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective for the company. Three research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Trading Down 8.3 %

Insider Buying and Selling at Beta Bionics

In related news, insider Mike Mensinger acquired 33,350 shares of Beta Bionics stock in a transaction dated 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 purchase, the insider now owns 59,019 shares of the company’s stock, valued at $1,003,323. This represents a 129.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the purchase, 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 position. 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.