Beta Bionics, Inc.'s Quiet Period Set To End on March 11th (NASDAQ:BBNX)

Beta Bionics' (NASDAQ:BBNX - Get Free Report) quiet period is set to 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, underwriters and any insiders involved in the IPO are restricted 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, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Leerink Partners started coverage on Beta Bionics in a research note on Monday, February 24th. They set an "outperform" rating and a $28.00 target price on the stock. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 target price for the company. Piper Sandler started coverage on Beta Bionics in a research report on Monday, February 24th. They set an "overweight" rating and a $26.00 price target on the stock. Baird R W raised shares of Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Finally, Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.83.

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Beta Bionics Stock Down 8.6 %

Shares of NASDAQ:BBNX traded down $1.53 during midday trading on Friday, hitting $16.28. 112,885 shares of the stock traded hands, compared to its average volume of 334,473. Beta Bionics has a one year low of $16.18 and a one year high of $24.50.

Insider Transactions at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the purchase, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. The trade was a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mike Mensinger acquired 33,350 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, with a total value of $566,950.00. Following the completion of the transaction, the insider now directly 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 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.