Beta Bionics (NASDAQ:BBNX - Get Free Report) has been assigned a $17.00 price target by equities researchers at Robert W. Baird in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential upside of 2.97% from the company's current price.
Other equities analysts also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued an "outperform" rating and a $20.00 price target on the stock. Lake Street Capital assumed coverage on Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective on the stock. Truist Financial assumed coverage on Beta Bionics in a research note on Monday, June 16th. They issued a "buy" rating and a $26.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price for the company. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Beta Bionics currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.
Get Our Latest Report on Beta Bionics
Beta Bionics Stock Down 1.7%
NASDAQ BBNX traded down $0.28 on Wednesday, hitting $16.51. 69,718 shares of the stock were exchanged, compared to its average volume of 510,415. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $24.50. The business has a fifty day moving average price of $15.71.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.12. The firm had revenue of $23.24 million for the quarter, compared to analysts' expectations of $19.73 million.
Insiders Place Their Bets
In related news, CFO Stephen Feider sold 1,497 shares of the company's 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 transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at $814,048.67. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 4,519 shares of company stock worth $80,845 over the last quarter.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of BBNX. Strs Ohio acquired a new stake in Beta Bionics in the first quarter valued at $29,000. CWM LLC acquired a new stake in Beta Bionics in the second quarter valued at $58,000. Values First Advisors Inc. grew its holdings in Beta Bionics by 13.2% in the second quarter. Values First Advisors Inc. now owns 42,563 shares of the company's stock valued at $620,000 after purchasing an additional 4,978 shares during the last quarter. Corebridge Financial Inc. purchased a new stake in shares of Beta Bionics in the first quarter valued at $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Beta Bionics in the first quarter valued at $95,000.
About Beta Bionics
(
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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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