Beta Bionics (NASDAQ:BBNX) Trading 6.5% Higher - Should You Buy?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shares were up 6.5% during mid-day trading on Friday . The stock traded as high as $14.07 and last traded at $14.03. Approximately 144,562 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 490,349 shares. The stock had previously closed at $13.17.

Analyst Upgrades and Downgrades

BBNX has been the subject of a number of research analyst reports. Lake Street Capital started coverage on Beta Bionics in a report on Thursday, June 12th. They set a "buy" rating and a $30.00 price objective for the company. Wolfe Research initiated coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued an "outperform" rating and a $20.00 price objective on the stock. Truist Financial initiated coverage on shares of Beta Bionics in a research report on Monday, June 16th. They set a "buy" rating and a $26.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.44.

Beta Bionics Trading Up 5.2%

The business has a 50-day simple moving average of $15.61.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.01).

Insider Buying and Selling

In other news, CFO Stephen Feider sold 1,497 shares of the firm'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 transaction of $26,781.33. Following the transaction, the chief financial officer directly owned 45,503 shares in the company, valued at approximately $814,048.67. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 4,519 shares of company stock valued at $80,845 in the last 90 days.

Institutional Trading of Beta Bionics

Institutional investors have recently modified their holdings of the company. Eventide Asset Management LLC acquired a new stake in shares of Beta Bionics in the first quarter valued at $60,307,000. Wellington Management Group LLP purchased a new stake in Beta Bionics in the 1st quarter worth about $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics in the 1st quarter worth about $37,990,000. Omega Fund Management LLC purchased a new stake in Beta Bionics in the 1st quarter worth about $24,337,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Beta Bionics during the 1st quarter worth about $10,799,000.

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.