Beta Bionics (NASDAQ:BBNX) Stock Price Up 4.7% - What's Next?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) shot up 4.7% on Thursday . The company traded as high as $20.02 and last traded at $20.01. 92,799 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 498,310 shares. The stock had previously closed at $19.11.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler started coverage on shares of Beta Bionics in a research note on Monday, February 24th. They set an "overweight" rating and a $26.00 price objective on the stock. Robert W. Baird started coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a "neutral" rating and a $20.00 price objective on the stock. Bank of America assumed coverage on Beta Bionics in a research note on Monday, February 24th. They issued a "buy" rating for the company. Lake Street Capital started coverage on Beta Bionics in a research report on Thursday. They set a "buy" rating and a $30.00 price target on the stock. Finally, Wolfe Research began coverage on Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Beta Bionics currently has an average rating of "Moderate Buy" and an average target price of $23.13.

Beta Bionics Price Performance

The business's 50 day simple moving average is $13.56.

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 for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.01).

Insiders Place Their Bets

In other news, CFO Stephen Feider sold 1,497 shares of the 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 completion of the sale, the chief financial officer now owns 45,503 shares in the company, valued at approximately $814,048.67. This represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 4,519 shares of company stock worth $80,845.

Hedge Funds Weigh In On Beta Bionics

A number of hedge funds have recently modified their holdings of the stock. Eventide Asset Management LLC acquired a new position in shares of Beta Bionics in the 1st quarter valued at $60,307,000. Wellington Management Group LLP acquired a new stake in Beta Bionics during the 1st quarter worth about $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics during the first quarter valued at about $37,990,000. Omega Fund Management LLC acquired a new position in shares of Beta Bionics in the first quarter worth about $24,337,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Beta Bionics in the first quarter worth approximately $10,799,000.

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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