Beta Bionics (NASDAQ:BBNX) Sets New 12-Month Low – Here’s What Happened

Beta Bionics, Inc. (NASDAQ:BBNX) reached a new 52-week low during trading 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.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a report on Thursday. They set a “neutral” rating and a $20.00 price objective on the stock. Robert W. Baird began coverage on Beta Bionics in a research note on Thursday. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research note on Thursday.

Beta Bionics Price Performance

Insiders Place Their Bets

In other Beta Bionics news, insider Mike Mensinger purchased 33,350 shares of Beta Bionics stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the acquisition, the insider now directly owns 3,901,599 shares of the company’s stock, valued at approximately $66,327,183. This trade represents a 34.46 % increase in their ownership of the stock. 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.