Beta Bionics (NASDAQ:BBNX) Shares Up 4.7% - Time to Buy?

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BBNX shares. Stifel Nicolaus started coverage on Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $25.00 price objective on the stock. Wolfe Research started coverage on Beta Bionics in a research note on Friday, May 30th. They issued an "outperform" rating and a $20.00 price target on the stock. Leerink Partnrs raised Beta Bionics to a "strong-buy" rating in a research note on Monday, February 24th. Baird R W raised Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Finally, LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.13.

Beta Bionics Stock Down 2.1%

The company has a 50-day moving average price of $13.92.

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

Insider Buying and Selling at Beta Bionics

In related news, CFO Stephen Feider sold 1,497 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $26,781.33. Following the completion of the transaction, the chief financial officer now directly owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,519 shares of company stock worth $80,845 over the last three months.

Institutional Investors Weigh In On Beta Bionics

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Beta Bionics during the 1st quarter valued at about $29,000. Corebridge Financial Inc. acquired a new stake in Beta Bionics in the first quarter valued at approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Beta Bionics in the first quarter valued at approximately $95,000. MetLife Investment Management LLC purchased a new position in shares of Beta Bionics in the first quarter worth $102,000. Finally, Deutsche Bank AG purchased a new position in shares of Beta Bionics in the first 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.