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

Beta Bionics, Inc. (NASDAQ:BBNX) reached a new 52-week low on Wednesday . The company traded as low as $19.08 and last traded at $19.17, with a volume of 284293 shares trading hands. The stock had previously closed at $20.60.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BBNX shares. Leerink Partners assumed coverage on Beta Bionics in a research note on Monday. They issued an “outperform” rating and a $28.00 price target for the company. Robert W. Baird began coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Bank of America initiated coverage on Beta Bionics in a report on Monday. They issued a “buy” rating for the company. Piper Sandler began coverage on shares of Beta Bionics in a research report on Monday. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Stifel Nicolaus started coverage on shares of Beta Bionics in a research report on Monday. They issued a “buy” rating and a $25.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Stock Down 6.9 %

Insider Transactions at Beta Bionics

In other Beta Bionics 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 bought at an average cost of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the transaction, the insider now owns 3,901,599 shares of the company’s stock, valued at $66,327,183. This represents a 34.46 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mike Mensinger purchased 33,350 shares of Beta Bionics stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, with a total value of $566,950.00. Following the transaction, the insider now owns 59,019 shares of the company’s stock, valued at approximately $1,003,323. This represents 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.