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

Beta Bionics, Inc. (NASDAQ:BBNX) shares reached a new 52-week low on Thursday . The company traded as low as $21.33 and last traded at $21.43, with a volume of 47071 shares changing hands. The stock had previously closed at $21.81.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Beta Bionics in a research report on Thursday. They issued a “neutral” rating and a $20.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research report on Thursday. They set a “neutral” rating and a $20.00 price target on the stock.

Beta Bionics Stock Down 1.4 %

Insiders Place Their Bets

In related news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the transaction, the insider now directly owns 3,901,599 shares in the company, valued at approximately $66,327,183. The trade was a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mike Mensinger purchased 33,350 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the purchase, the insider now directly owns 59,019 shares of the company’s stock, valued at $1,003,323. This represents a 129.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.