Beta Bionics (NASDAQ:BBNX) Shares Down 6.6% – Time to Sell?

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) traded down 6.6% on Wednesday . The stock traded as low as $16.86 and last traded at $17.25. 79,354 shares changed hands during trading, a decline of 76% from the average session volume of 325,039 shares. The stock had previously closed at $18.47.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Bank of America initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating on the stock. Lake Street Capital assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating and a $30.00 target price for the company. Piper Sandler initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued an “overweight” rating and a $26.00 price target on the stock. Finally, Stifel Nicolaus began coverage on Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Stock Down 9.4 %

Insider Transactions at Beta Bionics

In related news, insider Mike Mensinger purchased 33,350 shares of Beta Bionics stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, with a total value of $566,950.00. Following the completion of the transaction, the insider now directly owns 59,019 shares of the company’s stock, valued at $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the acquisition, the insider now owns 3,901,599 shares of the company’s stock, valued at $66,327,183. This trade represents a 34.46 % increase in their position. 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.