Beta Bionics (NASDAQ:BBNX) Trading Down 4.8% - Time to Sell?

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) were down 4.8% on Friday . The company traded as low as $18.35 and last traded at $18.62. Approximately 161,992 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 498,220 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BBNX shares. The Goldman Sachs Group began coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective on the stock. Bank of America began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a "buy" rating on the stock. Leerink Partners started coverage on Beta Bionics in a research report on Monday, February 24th. They set an "outperform" rating and a $28.00 price objective for the company. Stifel Nicolaus initiated coverage on Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $25.00 target price on the stock. Finally, Robert W. Baird assumed coverage on Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.13.

Beta Bionics Stock Down 2.0%

The stock's 50 day moving average price is $12.90.

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

Insider Activity at Beta Bionics

In other 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 transaction, the chief financial officer now owns 45,503 shares in the company, valued at approximately $814,048.67. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 4,519 shares of company stock worth $80,845.

Institutional Investors Weigh In On Beta Bionics

Several hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new position in shares of Beta Bionics in the 1st quarter valued at about $29,000. Corebridge Financial Inc. purchased a new position in Beta Bionics during the first quarter valued at approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Beta Bionics during the first quarter valued at approximately $95,000. MetLife Investment Management LLC acquired a new position in Beta Bionics in the 1st quarter valued at approximately $102,000. Finally, Deutsche Bank AG purchased a new stake in Beta Bionics in the 1st quarter worth approximately $148,000.

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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