Beta Bionics (NASDAQ:BBNX) Trading Down 7.7% - Should You Sell?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s stock price traded down 7.7% on Tuesday . The company traded as low as $13.27 and last traded at $13.44. 94,750 shares traded hands during trading, a decline of 81% from the average session volume of 496,807 shares. The stock had previously closed at $14.56.

Analyst Upgrades and Downgrades

BBNX has been the topic of a number of recent research reports. Truist Financial assumed coverage on Beta Bionics in a report on Monday, June 16th. They issued a "buy" rating and a $26.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a report on Friday, May 30th. They set a "neutral" rating and a $16.00 price objective on the stock. Lake Street Capital assumed 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 on the stock. Finally, Wolfe Research started coverage on shares of Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Beta Bionics presently has an average rating of "Moderate Buy" and an average target price of $23.44.

Beta Bionics Trading Down 4.4%

The company has a 50 day simple moving average of $15.38.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued 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 Activity

In related news, CFO Stephen Feider sold 1,497 shares of Beta Bionics stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $26,781.33. Following the sale, 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 can be accessed through this link. Insiders sold 4,519 shares of company stock valued at $80,845 over the last three months.

Institutional Inflows and Outflows

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