Evanson Asset Management LLC Makes New $475,000 Investment in Beta Bionics, Inc. (NASDAQ:BBNX)

Evanson Asset Management LLC purchased a new position in Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,772 shares of the company's stock, valued at approximately $475,000. Evanson Asset Management LLC owned about 0.09% of Beta Bionics as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Rhumbline Advisers bought a new position in Beta Bionics during the first quarter valued at $158,000.

Insider Activity

In related news, CFO Stephen Feider sold 1,497 shares of the company's 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 4,519 shares of company stock valued at $80,845.

Wall Street Analysts Forecast Growth

BBNX has been the topic of a number of analyst reports. Bank of America initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating on the stock. Truist Financial initiated coverage on shares of Beta Bionics in a research report on Monday, June 16th. They set a "buy" rating and a $26.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set a "neutral" rating and a $16.00 price objective on the stock. Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating and a $25.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Beta Bionics has a consensus rating of "Moderate Buy" and an average price target of $23.44.

Beta Bionics Trading Down 11.7%

Shares of BBNX traded down $2.09 during trading hours on Monday, reaching $15.80. 370,231 shares of the company traded hands, compared to its average volume of 480,022. Beta Bionics, Inc. has a 12-month low of $8.89 and a 12-month high of $24.50. The stock has a fifty day moving average of $14.75.

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

Beta Bionics 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.