Beta Bionics (NASDAQ:BBNX) Trading Down 5.4% - What's Next?

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

Analysts Set New Price Targets

Several analysts recently issued reports on BBNX shares. Robert W. Baird began coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price target for the company. Baird R W raised Beta Bionics to a "hold" rating in a report on Thursday, February 20th. Bank of America began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a "buy" rating on the stock. Piper Sandler started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set an "overweight" rating and a $26.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.44.

Beta Bionics Stock Performance

The stock has a 50 day moving average price of $14.65.

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

Insider Buying and Selling at Beta Bionics

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

Institutional Investors Weigh In On Beta Bionics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in Beta Bionics in the first quarter valued at approximately $29,000. Corebridge Financial Inc. bought a new position in shares of Beta Bionics in the 1st quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics in the 1st quarter valued at $95,000. MetLife Investment Management LLC acquired a new stake in shares of Beta Bionics during the 1st quarter valued at $102,000. Finally, Deutsche Bank AG bought a new stake in Beta Bionics during the 1st quarter worth $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.