Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s share price fell 8.9% during trading on Friday . The company traded as low as $19.90 and last traded at $20.15. 320,925 shares were traded during mid-day trading, a decline of 46% from the average session volume of 591,065 shares. The stock had previously closed at $22.13.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Robert W. Baird set a $17.00 price objective on shares of Beta Bionics and gave the company a "neutral" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective on the stock. Truist Financial boosted their price objective on shares of Beta Bionics from $21.00 to $28.00 and gave the company a "buy" rating in a research note on Monday. Lake Street Capital assumed coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued an "outperform" rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.33.
View Our Latest Stock Report on BBNX
Beta Bionics Stock Performance
The firm's 50-day simple moving average is $18.50 and its 200 day simple moving average is $15.57.
Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.12. The company 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 Activity
In related news, CFO Stephen Feider sold 1,462 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $18.86, for a total value of $27,573.32. Following the sale, the chief financial officer directly owned 44,041 shares in the company, valued at $830,613.26. The trade was a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Hopman sold 11,411 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $20.56, for a total transaction of $234,610.16. Following the completion of the sale, the insider owned 31,215 shares in the company, valued at $641,780.40. This represents a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,901 shares of company stock worth $894,710 over the last quarter.
Institutional Investors Weigh In On Beta Bionics
Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new position in Beta Bionics in the 1st quarter valued at about $29,000. CWM LLC acquired a new position in Beta Bionics in the 2nd quarter valued at about $58,000. Legal & General Group Plc raised its stake in Beta Bionics by 197.4% in the 2nd quarter. Legal & General Group Plc now owns 3,976 shares of the company's stock valued at $58,000 after purchasing an additional 2,639 shares during the last quarter. Corebridge Financial Inc. acquired a new position in shares of Beta Bionics during the 1st quarter valued at about $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Beta Bionics during the 1st quarter valued at about $95,000.
About Beta Bionics
(
Get Free Report)
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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