Beta Bionics, Inc. (NASDAQ:BBNX) Insider Sells $19,947.35 in Stock

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Mike Mensinger sold 1,115 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $19,947.35. Following the sale, the insider now directly owns 92,904 shares in the company, valued at $1,662,052.56. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Beta Bionics Price Performance

Shares of BBNX traded up $1.49 during trading hours on Wednesday, hitting $19.45. The company had a trading volume of 821,154 shares, compared to its average volume of 501,945. The stock has a fifty day moving average price of $12.75. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.01).

Hedge Funds Weigh In On Beta Bionics

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers acquired a new position in shares of Beta Bionics in the first quarter valued at about $158,000. Strs Ohio acquired a new position in shares of Beta Bionics in the first quarter valued at about $29,000. Woodline Partners LP acquired a new position in shares of Beta Bionics in the first quarter valued at about $1,530,000. Goldman Sachs Group Inc. acquired a new position in shares of Beta Bionics in the first quarter valued at about $715,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Beta Bionics in the first quarter valued at about $95,000.

Analyst Ratings Changes

Several research firms have issued reports on BBNX. Bank of America began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating on the stock. Leerink Partnrs raised shares of Beta Bionics to a "strong-buy" rating in a research report on Monday, February 24th. Wolfe Research started coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued an "outperform" rating and a $20.00 price objective on the stock. Lake Street Capital started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, 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 objective on the stock. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.13.

About Beta Bionics

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.

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