Beta Bionics (NASDAQ:BBNX) Hits New 1-Year Low – Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.33 and last traded at $21.43, with a volume of 47071 shares. The stock had previously closed at $21.81.

Wall Street Analysts Forecast Growth

BBNX has been the subject of several research reports. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research report on Thursday. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday. They set a “neutral” rating and a $20.00 target price on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a report on Thursday. They set a “neutral” rating and a $20.00 price target for the company.

Beta Bionics Price Performance

Insiders Place Their Bets

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