Steven Jon Russell Sells 1,039 Shares of Beta Bionics, Inc. (NASDAQ:BBNX) Stock

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) insider Steven Jon Russell sold 1,039 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $18,587.71. Following the completion of the sale, the insider now owns 72,032 shares of the company's stock, valued at approximately $1,288,652.48. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Beta Bionics Stock Up 8.3%

NASDAQ:BBNX traded up $1.49 during midday trading on Wednesday, reaching $19.45. 821,154 shares of the stock traded hands, compared to its average volume of 501,945. The business has a fifty day moving average of $12.75. Beta Bionics, Inc. has a 12 month low of $8.89 and a 12 month high of $24.50.

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

Institutional Investors Weigh In On Beta Bionics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eventide Asset Management LLC bought a new position in Beta Bionics in the 1st quarter worth $60,307,000. Wellington Management Group LLP bought a new position in Beta Bionics in the 1st quarter worth $47,346,000. Sands Capital Ventures LLC bought a new position in Beta Bionics in the 1st quarter worth $37,990,000. Omega Fund Management LLC bought a new position in Beta Bionics in the 1st quarter worth $24,337,000. Finally, Driehaus Capital Management LLC bought a new position in Beta Bionics in the 1st quarter worth $10,799,000.

Wall Street Analysts Forecast Growth

BBNX has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an "overweight" rating and a $26.00 price objective for the company. Bank of America initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating for the company. The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective for the company. Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Finally, Leerink Partners initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an "outperform" rating and a $28.00 price objective for the company. Four investment 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.13.

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.

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