Beta Bionics (NASDAQ:BBNX) Stock Price Down 5.4% - Here's What Happened

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shares traded down 5.4% on Tuesday . The stock traded as low as $18.39 and last traded at $18.39. 45,941 shares were traded during trading, a decline of 91% from the average session volume of 492,952 shares. The stock had previously closed at $19.45.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BBNX shares. Baird R W upgraded shares of Beta Bionics to a "hold" rating in a report on Thursday, February 20th. Stifel Nicolaus began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $25.00 price target on the stock. Piper Sandler initiated coverage on Beta Bionics in a research note on Monday, February 24th. They set an "overweight" rating and a $26.00 price target for the company. Robert W. Baird began coverage on Beta Bionics in a report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price objective for the company. Finally, Bank of America started coverage on Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating on the stock. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Beta Bionics presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.44.

Beta Bionics Trading Down 8.7%

The firm's 50-day simple moving average is $14.12.

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

Insider Buying and Selling

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders sold 4,519 shares of company stock worth $80,845.

Institutional Trading of Beta Bionics

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

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.

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