Beta Bionics (NASDAQ:BBNX) Sets New 12-Month Low – Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $21.72 and last traded at $21.93, with a volume of 54384 shares trading hands. The stock had previously closed at $22.53.

Beta Bionics Stock Performance

Insiders Place Their Bets

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