Beta Bionics (NASDAQ:BBNX) Reaches New 52-Week Low – Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price hit a new 52-week low during 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

Several research analysts recently issued reports on BBNX shares. Leerink Partners assumed coverage on Beta Bionics in a research report on Monday, February 24th. They set an “outperform” rating and a $28.00 target price on the stock. Robert W. Baird initiated 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 for the company. Stifel Nicolaus began 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 on the stock. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective for the company. Three equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Price Performance

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the company’s 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 acquisition, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. This trade represents a 34.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mike Mensinger bought 33,350 shares of Beta Bionics stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $17.00 per share, with a total value 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 represents 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.