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

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock 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 Ratings Changes

Several brokerages have issued reports on BBNX. Stifel Nicolaus began coverage on Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $25.00 price objective for the company. Piper Sandler began coverage on Beta Bionics in a research report on Monday, February 24th. They issued an "overweight" rating and a $26.00 price objective for the company. Leerink Partners initiated coverage on Beta Bionics in a research report on Monday, February 24th. They issued an "outperform" rating and a $28.00 price objective for the company. LADENBURG THALM/SH SH initiated coverage on Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 target price for the company. Finally, Baird R W upgraded Beta Bionics to a "hold" rating in a research report on Thursday, February 20th. Three investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.83.

Beta Bionics Price Performance

Insider Buying and Selling at Beta Bionics

In related news, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mike Mensinger bought 33,350 shares of the business's stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now directly owns 59,019 shares of the company's stock, valued at approximately $1,003,323. This trade represents a 129.92 % increase in their position. The disclosure for this purchase can be found here.

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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.