Beta Bionics, Inc. (NASDAQ:BBNX) Given Average Rating of "Moderate Buy" by Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.83.

BBNX has been the subject of a number of recent analyst reports. Stifel Nicolaus assumed coverage on Beta Bionics in a report on Monday. They set a "buy" rating and a $25.00 price objective for the company. LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a "neutral" rating and a $20.00 target price for the company. Leerink Partners assumed coverage on shares of Beta Bionics in a research note on Monday. They issued an "outperform" rating and a $28.00 price target on the stock. Baird R W raised shares of Beta Bionics to a "hold" rating in a research report on Thursday, February 20th. Finally, Robert W. Baird started coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 target price on the stock.

Insiders Place Their Bets

In related news, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mike Mensinger bought 33,350 shares of the company's 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. This represents a 129.92 % increase in their position. The disclosure for this purchase can be found here.

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Beta Bionics Stock Performance

Shares of NASDAQ:BBNX traded down $0.08 during trading hours on Monday, hitting $19.91. 389,619 shares of the company's stock traded hands, compared to its average volume of 332,212. Beta Bionics has a 1 year low of $18.67 and a 1 year high of $24.50.

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.