Beta Bionics (NASDAQ:BBNX) Shares Down 3% - What's Next?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) dropped 3% on Monday . The company traded as low as $14.60 and last traded at $14.64. Approximately 100,121 shares traded hands during trading, a decline of 78% from the average daily volume of 453,908 shares. The stock had previously closed at $15.10.

Analyst Ratings Changes

Several analysts have issued reports on the company. LADENBURG THALM/SH SH started coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 target price for the company. Lake Street Capital started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating and a $30.00 price target for the company. Baird R W upgraded Beta Bionics to a "hold" rating in a report on Thursday, February 20th. Stifel Nicolaus started coverage on Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $25.00 target price for the company. Finally, Bank of America began coverage on Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating on the stock. Three 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 has a consensus rating of "Moderate Buy" and a consensus target price of $24.83.

Beta Bionics Stock Down 7.6 %

The stock's fifty day moving average price is $18.76.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($1.40). The firm had revenue of $20.44 million during the quarter, compared to analysts' expectations of $20.01 million.

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Insiders Place Their Bets

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