Beta Bionics (NASDAQ:BBNX) Shares Gap Up - Time to Buy?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $19.27, but opened at $19.99. Beta Bionics shares last traded at $19.41, with a volume of 13,434 shares.

Analyst Ratings Changes

BBNX has been the topic of a number of recent research reports. Lake Street Capital initiated coverage on shares of Beta Bionics in a research note on Thursday. They issued a "buy" rating and a $30.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price target on the stock. 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. Finally, Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.13.

Beta Bionics Trading Up 0.2%

The stock's 50-day moving average is $13.74.

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

Insider Transactions at Beta Bionics

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BBNX. Rhumbline Advisers purchased a new position in shares of Beta Bionics in the first quarter worth $158,000. Evanson Asset Management LLC purchased a new position in Beta Bionics during the 1st quarter valued at about $475,000. Bank of New York Mellon Corp purchased a new position in Beta Bionics during the 1st quarter valued at about $316,000. Values First Advisors Inc. purchased a new position in Beta Bionics during the 1st quarter valued at about $457,000. Finally, Jennison Associates LLC purchased a new position in Beta Bionics during the 1st quarter valued at about $828,000.

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.