Beta Bionics, Inc. (NASDAQ:BBNX) Insider Sells $19,947.35 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX) insider Mike Mensinger sold 1,115 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 transaction of $19,947.35. Following the sale, the insider now owns 92,904 shares of the company’s stock, valued at $1,662,052.56. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Beta Bionics Stock Up 8.3%

BBNX stock opened at $19.45 on Thursday. The stock’s 50 day moving average is $12.75. Beta Bionics, Inc. has a 52 week low of $8.89 and a 52 week high of $24.50.

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

Institutional Trading of Beta Bionics

A number of institutional investors have recently bought and sold shares of BBNX. Eventide Asset Management LLC acquired a new position in Beta Bionics in the 1st quarter worth about $60,307,000. Wellington Management Group LLP acquired a new stake in shares of Beta Bionics in the first quarter worth about $47,346,000. Sands Capital Ventures LLC bought a new stake in Beta Bionics during the first quarter worth approximately $37,990,000. Omega Fund Management LLC bought a new position in shares of Beta Bionics in the first quarter valued at approximately $24,337,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Beta Bionics in the first quarter valued at approximately $10,799,000.

Analysts Set New Price Targets

BBNX has been the subject of a number of recent research reports. 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 objective for the company. Baird R W upgraded Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Lake Street Capital began coverage on Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $30.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Stifel Nicolaus began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating and a $25.00 target price on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

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.