Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s share price traded down 6.3% during trading on Thursday . The company traded as low as $19.88 and last traded at $19.88. 173,071 shares were traded during trading, a decline of 71% from the average session volume of 589,656 shares. The stock had previously closed at $21.22.
Analyst Ratings Changes
A number of research firms have issued reports on BBNX. The Goldman Sachs Group set a $26.00 price target on Beta Bionics and gave the company a "buy" rating in a research report on Wednesday, October 1st. Truist Financial raised their target price on Beta Bionics from $21.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Robert W. Baird set a $17.00 target price on Beta Bionics and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Beta Bionics in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus started coverage on Beta Bionics in a research report on Tuesday. They set a "buy" rating and a $26.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.56.
Read Our Latest Stock Report on BBNX
Beta Bionics Stock Down 5.9%
The stock has a 50 day moving average of $20.79 and a two-hundred day moving average of $16.53.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.12. The company had revenue of $23.24 million during the quarter, compared to analyst estimates of $19.73 million. Beta Bionics has set its FY 2025 guidance at EPS.
Insider Activity
In related news, insider Mark Hopman sold 11,411 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $20.56, for a total value of $234,610.16. Following the completion of the transaction, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Stephen Feider sold 4,982 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $21.69, for a total value of $108,059.58. Following the sale, the chief financial officer owned 44,041 shares in the company, valued at $955,249.29. The trade was a 10.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,901 shares of company stock valued at $1,314,543 in the last ninety days.
Institutional Trading of Beta Bionics
Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new stake in Beta Bionics during the first quarter valued at approximately $29,000. CWM LLC acquired a new stake in Beta Bionics during the second quarter valued at approximately $58,000. Legal & General Group Plc raised its stake in Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock valued at $58,000 after buying an additional 2,639 shares in the last quarter. Corebridge Financial Inc. acquired a new stake in shares of Beta Bionics during the 1st quarter worth approximately $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Beta Bionics during the 1st quarter worth approximately $95,000.
Beta Bionics Company Profile
(
Get Free Report)
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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