Beta Bionics (NASDAQ:BBNX) Shares Gap Up - Here's What Happened

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $17.96, but opened at $18.57. Beta Bionics shares last traded at $18.61, with a volume of 43,897 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BBNX. Robert W. Baird initiated coverage on Beta Bionics in a research report on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price target on the stock. The Goldman Sachs Group assumed coverage on Beta Bionics in a research note on Friday, May 30th. They issued a "neutral" rating and a $16.00 price target for the company. Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a research note on Monday, February 24th. Stifel Nicolaus began coverage on Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Lake Street Capital started coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating and a $30.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Beta Bionics presently has an average rating of "Moderate Buy" and an average target price of $23.13.

Beta Bionics Stock Down 2.4%

The stock's 50-day simple moving average is $13.05.

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

Insider Transactions at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $26,781.33. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at approximately $814,048.67. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 4,519 shares of company stock valued at $80,845.

Hedge Funds Weigh In On Beta Bionics

A number of large investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Beta Bionics during the first quarter worth $29,000. Corebridge Financial Inc. acquired a new position in shares of Beta Bionics in the 1st quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Beta Bionics during the 1st quarter worth about $95,000. MetLife Investment Management LLC purchased a new position in shares of Beta Bionics during the 1st quarter valued at approximately $102,000. Finally, Deutsche Bank AG acquired a new stake in Beta Bionics in the 1st quarter worth about $148,000.

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.