Beta Bionics (NASDAQ:BBNX) Trading Up 2.8% - Still a Buy?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) traded up 2.8% during trading on Monday . The company traded as high as $12.14 and last traded at $12.04. 144,117 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 482,004 shares. The stock had previously closed at $11.71.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBNX shares. 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 target for the company. Bank of America started coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating for the company. Robert W. Baird assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 target price on the stock. Piper Sandler initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set an "overweight" rating and a $26.00 price target for the company. Finally, Lake Street Capital assumed coverage on Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $30.00 price objective on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.83.

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Beta Bionics Trading Down 8.0 %

The company has a 50 day moving average of $18.12.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued 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 company had revenue of $20.44 million for the quarter, compared to the consensus estimate of $20.01 million.

Insiders Place Their Bets

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the firm's stock in a transaction on Friday, January 31st. The shares were acquired 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 approximately $66,327,183. The trade was a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mike Mensinger purchased 33,350 shares of the company's stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their ownership of the stock. 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.