Beta Bionics (NASDAQ:BBNX) Reaches New 52-Week Low - Should You Sell?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.41 and last traded at $15.59, with a volume of 84433 shares. The stock had previously closed at $16.14.

Analyst Ratings Changes

BBNX has been the subject of several analyst reports. Baird R W raised shares of Beta Bionics to a "hold" rating in a research report on Thursday, February 20th. Stifel Nicolaus initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating and a $25.00 price target for the company. Leerink Partners initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set an "outperform" rating and a $28.00 price target for the company. Robert W. Baird initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price target for the company. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.83.

Beta Bionics Trading Up 0.2 %

Insider Activity at Beta Bionics

In other Beta Bionics news, 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 cost 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 $1,003,323. This represents a 129.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of Beta Bionics stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the transaction, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. The trade was a 34.46 % increase in their position. The disclosure for this purchase can be found here.

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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.