Beta Bionics (NASDAQ:BBNX) Coverage Initiated by Analysts at Bank of America

Equities researchers at Bank of America began coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Leerink Partners initiated coverage on shares of Beta Bionics in a research note on Monday. They issued an “outperform” rating and a $28.00 price objective on the stock. Piper Sandler initiated coverage on shares of Beta Bionics in a research report on Monday. They issued an “overweight” rating and a $26.00 price target on the stock. Baird R W raised shares of Beta Bionics to a “hold” rating in a research note on Thursday. Stifel Nicolaus began coverage on Beta Bionics in a research note on Monday. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Robert W. Baird began coverage on Beta Bionics in a research report on Thursday. They set a “neutral” rating and a $20.00 price target for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Price Performance

Beta Bionics stock traded up $0.36 during trading hours on Monday, hitting $20.93. The stock had a trading volume of 176,430 shares, compared to its average volume of 333,545. Beta Bionics has a 1-year low of $20.00 and a 1-year high of $24.50.

Insiders Place Their Bets

In other Beta Bionics news, 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 cost of $17.00 per share, with a total value of $566,950.00. Following the purchase, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. This represents a 129.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the purchase, the insider now 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 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.