Beta Bionics (NASDAQ:BBNX) Shares Down 5.4% – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX) shares were down 5.4% on Tuesday . The company traded as low as $18.39 and last traded at $18.39. Approximately 45,941 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 492,952 shares. The stock had previously closed at $19.45.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BBNX shares. Lake Street Capital initiated coverage on Beta Bionics in a report on Thursday, June 12th. They set a “buy” rating and a $30.00 price target for the company. Robert W. Baird began coverage on Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Truist Financial initiated coverage on Beta Bionics in a report on Monday. They set a “buy” rating and a $26.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set a “neutral” rating and a $16.00 price target on the stock. Finally, Baird R W raised Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.44.

Beta Bionics Price Performance

The stock has a fifty day moving average price of $14.12.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.01).

Insider Transactions at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $26,781.33. Following the completion of the sale, the chief financial officer now owns 45,503 shares of the company’s stock, valued at approximately $814,048.67. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 4,519 shares of company stock valued at $80,845.

Institutional Trading of Beta Bionics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Beta Bionics during the 1st quarter valued at $29,000. Corebridge Financial Inc. purchased a new position in shares of Beta Bionics during the 1st quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics during the 1st quarter worth $95,000. MetLife Investment Management LLC purchased a new stake in Beta Bionics during the first quarter valued at about $102,000. Finally, Deutsche Bank AG bought a new position in shares of Beta Bionics in the first quarter valued at approximately $148,000.

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.