Beta Bionics (NASDAQ:BBNX) Shares Gap Up - Should You Buy?

Key Points

• Beta Bionics shares gapped up from $19.87 to $21.00 before trading at $20.21, with notable trading volume of 139,178 shares.
• Analysts have mixed ratings on the stock, with price targets ranging from $17.00 to $30.00, and a consensus rating of "Moderate Buy" with a target of $24.44.
• Insider activity includes a significant sale of shares by key executives, indicating a 26.77% decrease in ownership by insider Mark Hopman.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $19.87, but opened at $21.00. Beta Bionics shares last traded at $20.21, with a volume of 139,178 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Robert W. Baird set a $17.00 price target on Beta Bionics and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group set a $26.00 price target on shares of Beta Bionics and gave the company a "buy" rating in a report on Wednesday. Lake Street Capital began coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Truist Financial lifted their price target on shares of Beta Bionics from $21.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Beta Bionics has a consensus rating of "Moderate Buy" and a consensus price target of $24.44.

Beta Bionics Trading Down 3.3%

The business's fifty day moving average price is $18.83 and its two-hundred day moving average price is $15.68.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The company had revenue of $23.24 million for the quarter, compared to analysts' expectations of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, insider Mark Hopman sold 11,411 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $20.56, for a total value of $234,610.16. Following the sale, the insider directly owned 31,215 shares of the company's stock, valued at approximately $641,780.40. This represents a 26.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Feider sold 1,462 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $18.86, for a total transaction of $27,573.32. Following the completion of the sale, the chief financial officer directly owned 44,041 shares in the company, valued at approximately $830,613.26. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,901 shares of company stock worth $894,710.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds have recently modified their holdings of BBNX. Eventide Asset Management LLC acquired a new position in shares of Beta Bionics during the 1st quarter worth about $60,307,000. Wellington Management Group LLP acquired a new stake in Beta Bionics in the 1st quarter valued at about $47,346,000. Sands Capital Ventures LLC acquired a new stake in Beta Bionics in the 1st quarter valued at about $37,990,000. Omega Fund Management LLC acquired a new stake in Beta Bionics in the 1st quarter valued at about $24,337,000. Finally, Divisadero Street Capital Management LP acquired a new stake in Beta Bionics in the 2nd quarter valued at about $13,817,000.

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.

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