Beta Bionics (NASDAQ:BBNX) Stock Price Down 3% - Should You Sell?

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

Wall Street Analyst Weigh In

BBNX has been the subject of a number of analyst reports. Leerink Partnrs raised shares of Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Baird R W upgraded shares of Beta Bionics to a "hold" rating in a report on Thursday, February 20th. Leerink Partners assumed 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 on the stock. 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. Finally, Lake Street Capital began coverage on Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $30.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $24.83.

Beta Bionics Stock Down 7.6 %

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $20.01 million.

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Insiders Place Their Bets

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

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.