Beta Bionics (NASDAQ:BBNX) Trading Up 7.1% – Still a Buy?

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) were up 7.1% during trading on Friday . The company traded as high as $15.20 and last traded at $15.03. Approximately 37,084 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 359,178 shares. The stock had previously closed at $14.04.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBNX shares. Bank of America started coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating on the stock. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Stifel Nicolaus initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Baird R W raised shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Stock Up 4.5 %

Insider Activity at Beta Bionics

In other 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 shares were acquired at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the purchase, the insider now owns 3,901,599 shares in the company, valued at $66,327,183. This trade represents a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mike Mensinger purchased 33,350 shares of the company’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 purchase, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % 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.