Beta Bionics (NASDAQ:BBNX) Reaches New 12-Month Low – What’s Next?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.29 and last traded at $12.24, with a volume of 933182 shares trading hands. The stock had previously closed at $11.71.

Wall Street Analysts Forecast Growth

BBNX has been the subject of several research analyst reports. Lake Street Capital began coverage on Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating and a $30.00 target price for the company. Bank of America began coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating on the stock. Leerink Partnrs raised shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 24th. Leerink Partners started coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 price target on the stock. Finally, Baird R W upgraded 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Trading Up 7.2 %

The stock has a 50 day moving average price of $18.28.

Beta Bionics (NASDAQ:BBNX) 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 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 news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the business’s 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 in the company, valued at approximately $66,327,183. The trade was a 34.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mike Mensinger purchased 33,350 shares of Beta Bionics stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the transaction, the insider now directly owns 59,019 shares in the company, valued at $1,003,323. This represents a 129.92 % increase in their position. 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.