Lake Street Capital Initiates Coverage on Beta Bionics (NASDAQ:BBNX)

Lake Street Capital started coverage on shares of Beta Bionics (NASDAQ:BBNX - Free Report) in a report published on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

BBNX has been the subject of a number of other reports. Stifel Nicolaus started coverage on shares of Beta Bionics in a research note on Monday. They set a "buy" rating and a $25.00 price objective for the company. LADENBURG THALM/SH SH started coverage on Beta Bionics in a research report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price target for the company. Baird R W upgraded Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Robert W. Baird started 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. Finally, Piper Sandler started coverage on Beta Bionics in a report on Monday. They issued an "overweight" rating and a $26.00 price objective for the company. Three 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.83.

Beta Bionics Stock Performance

BBNX traded down $0.08 during trading hours on Monday, hitting $19.91. 389,619 shares of the company's stock were exchanged, 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.

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Insider Activity

In related news, insider Mike Mensinger purchased 33,350 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were acquired 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. This represents a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the acquisition, the insider now owns 3,901,599 shares in the company, valued at approximately $66,327,183. This trade represents a 34.46 % increase in their ownership of the stock. 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.