Beta Bionics (NASDAQ:BBNX) Trading 4.2% Higher - What's Next?

Key Points

• Beta Bionics' stock price increased by 4.2% to $21.08, despite a significant decrease in trading volume from the previous average.
• Analysts have raised price targets for the stock, with Truist Financial setting a target of $28.00 and multiple firms issuing "buy" ratings.
• Insider trading activity saw CFO Stephen Feider and other executives selling shares, indicating a decrease in their holdings, while hedge funds are increasing their stakes in the company.

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s stock price traded up 4.2% on Tuesday . The company traded as high as $21.12 and last traded at $21.08. 276,385 shares traded hands during trading, a decline of 53% from the average session volume of 587,401 shares. The stock had previously closed at $20.24.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial increased their price target on shares of Beta Bionics from $21.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Stifel Nicolaus began coverage on shares of Beta Bionics in a research note on Tuesday. They issued a "buy" rating and a $26.00 target price on the stock. Robert W. Baird set a $17.00 target price on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group set a $26.00 target price on shares of Beta Bionics and gave the company a "buy" rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Beta Bionics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Beta Bionics has an average rating of "Moderate Buy" and a consensus target price of $24.56.

Beta Bionics Trading Up 3.5%

The company's 50 day moving average is $20.53 and its 200-day moving average is $16.46.

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 (EPS) for the quarter, topping 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. Beta Bionics has set its FY 2025 guidance at EPS.

Insider Buying and Selling at Beta Bionics

In related news, insider Mark Hopman sold 11,411 shares of Beta Bionics stock in a transaction on Friday, September 5th. The shares were sold at an average price of $20.56, for a total transaction of $234,610.16. Following the sale, the insider owned 31,215 shares of the company's stock, valued at $641,780.40. The trade was a 26.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Feider sold 4,982 shares of Beta Bionics stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $21.69, for a total transaction of $108,059.58. Following the sale, the chief financial officer directly owned 44,041 shares in the company, valued at $955,249.29. This trade represents a 10.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,901 shares of company stock worth $1,314,543 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in Beta Bionics during the 1st quarter worth $29,000. Legal & General Group Plc grew its holdings in Beta Bionics by 197.4% during the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock worth $58,000 after acquiring an additional 2,639 shares in the last quarter. CWM LLC acquired a new position in Beta Bionics during the 2nd quarter worth $58,000. Corebridge Financial Inc. acquired a new position in Beta Bionics during the 1st quarter worth $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Beta Bionics during the 1st quarter worth $95,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.