Beta Bionics (NASDAQ:BBNX) Earns Buy Rating from Analysts at Bank of America

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

Several other equities research analysts have also recently issued reports on BBNX. Robert W. Baird started coverage on Beta Bionics in a research note on Thursday. They set a “neutral” rating and a $20.00 target price for the company. Leerink Partners assumed coverage on Beta Bionics in a report on Monday. They issued an “outperform” rating and a $28.00 target price for the company. LADENBURG THALM/SH SH began coverage on shares of Beta Bionics in a report on Thursday. They issued a “neutral” rating and a $20.00 target price on the stock. Stifel Nicolaus initiated coverage on Beta Bionics in a research note on Monday. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Lake Street Capital assumed coverage on shares of Beta Bionics in a report on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Price Performance

BBNX traded up $0.36 during trading on Monday, reaching $20.93. The company’s 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.

Insider Activity

In other Beta Bionics news, insider Mike Mensinger bought 33,350 shares of Beta Bionics stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, with a total value of $566,950.00. Following the completion of the acquisition, the insider now owns 59,019 shares in the company, valued at $1,003,323. The trade was a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of 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.