Beta Bionics, Inc.’s Quiet Period Will Expire on March 11th (NASDAQ:BBNX)

Beta Bionics’ (NASDAQ:BBNX) quiet period will expire on Tuesday, March 11th. Beta Bionics had issued 12,000,000 shares in its initial public offering on January 30th. The total size of the offering was $204,000,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

BBNX has been the subject of several analyst reports. Lake Street Capital started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating and a $30.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $25.00 price objective for the company. Leerink Partners started coverage on Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 target price on the stock. Robert W. Baird initiated coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Baird R W upgraded Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Beta Bionics has an average rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Stock Up 0.0 %

Shares of BBNX stock opened at $20.98 on Tuesday. Beta Bionics has a 12 month low of $18.67 and a 12 month high of $24.50.

Insider Activity at Beta Bionics

In other news, insider Mike Mensinger bought 33,350 shares of the business’s stock in a transaction dated 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price 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 of the company’s stock, valued at $66,327,183. This trade represents 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.