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

Bank of America initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating on the stock.

Several other analysts also recently commented on BBNX. Robert W. Baird initiated coverage on Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective on the stock. Leerink Partners initiated coverage on Beta Bionics in a research report on Monday. They set an “outperform” rating and a $28.00 price target on the stock. Stifel Nicolaus began coverage on Beta Bionics in a research report on Monday. They issued a “buy” rating and a $25.00 price objective for the company. Lake Street Capital assumed coverage on Beta Bionics in a research note on Monday. They set a “buy” rating and a $30.00 target price for the company. Finally, Baird R W raised shares of Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Trading Up 0.1 %

BBNX opened at $20.60 on Monday. Beta Bionics has a twelve month low of $20.00 and a twelve month high of $24.50.

Insider Buying and Selling

In related news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the transaction, the insider now 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mike Mensinger purchased 33,350 shares of the 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 $566,950.00. Following the transaction, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their ownership of the stock. 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.