Beta Bionics (NASDAQ:BBNX) Hits New 52-Week Low – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNX)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $19.08 and last traded at $19.17, with a volume of 284293 shares. The stock had previously closed at $20.60.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BBNX shares. Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus began coverage on shares of Beta Bionics in a research report on Monday. They set a “buy” rating and a $25.00 target price on the stock. Baird R W upgraded Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Piper Sandler started coverage on shares of Beta Bionics in a research note on Monday. They issued an “overweight” rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Beta Bionics Stock Performance

Insider Activity

In other Beta Bionics news, insider Mike Mensinger bought 33,350 shares of Beta Bionics stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now owns 59,019 shares of the company’s stock, valued at $1,003,323. The trade was a 129.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the acquisition, the insider now owns 3,901,599 shares in the company, valued at $66,327,183. The trade was a 34.46 % increase in their position. The disclosure for this purchase can be found here.

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.