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

Bank of America initiated coverage on shares of Beta Bionics (NASDAQ:BBNX - Free Report) in a research report report published on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating on the stock.

Several other analysts have also issued reports on the stock. Piper Sandler assumed coverage on shares of Beta Bionics in a report on Monday. They issued an "overweight" rating and a $26.00 price objective on the stock. Lake Street Capital started coverage on shares of Beta Bionics in a research report on Monday. They set a "buy" rating and a $30.00 price objective for the company. Robert W. Baird began coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price objective for the company. LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a "neutral" rating and a $20.00 target price on the stock. Finally, Leerink Partners began coverage on Beta Bionics in a report on Monday. They issued an "outperform" rating and a $28.00 target price on the stock. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.83.

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Beta Bionics Price Performance

BBNX traded up $0.05 during trading on Monday, reaching $20.04. The company's stock had a trading volume of 140,795 shares, compared to its average volume of 319,011. Beta Bionics has a 1 year low of $18.67 and a 1 year high of $24.50.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the business's 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 acquisition, the insider now owns 3,901,599 shares of the company's stock, valued at approximately $66,327,183. The trade was a 34.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mike Mensinger bought 33,350 shares of Beta Bionics 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 completion of the transaction, the insider now directly owns 59,019 shares of the company's stock, valued at $1,003,323. This trade represents a 129.92 % 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.