Beta Bionics (NASDAQ:BBNX) Stock Price Down 3% – Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price traded down 3% during mid-day trading on Monday . The company traded as low as $14.60 and last traded at $14.64. Approximately 100,121 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 453,908 shares. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

BBNX has been the topic of a number of recent analyst reports. Lake Street Capital began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating and a $30.00 target price on the stock. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 target price for the company. LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Piper Sandler assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “overweight” rating and a $26.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Stock Down 13.6 %

Beta Bionics (NASDAQ:BBNX) last announced its earnings results on Tuesday, March 25th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($1.40). The company had revenue of $20.44 million during the quarter, compared to analyst estimates of $20.01 million.

Insider Transactions at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $17.00 per share, with a total value 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. This represents a 34.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mike Mensinger acquired 33,350 shares of Beta Bionics stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the purchase, the insider now directly owns 59,019 shares of the company’s stock, valued at $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.