Beta Bionics (NASDAQ:BBNX) Stock Price Up 2.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several analysts have commented on BBNX shares. LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price for the company. Lake Street Capital started coverage on Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus began coverage on Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $25.00 target price for the company. Piper Sandler started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued an “overweight” rating and a $26.00 price target on the stock. Finally, Baird R W raised shares of Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Stock Performance

The stock has a 50-day simple moving average of $18.76.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data 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 the consensus estimate of $20.01 million.

Insider Buying and Selling at Beta Bionics

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