LADENBURG THALM/SH SH Begins Coverage on Beta Bionics (NASDAQ:BBNX)

Analysts at LADENBURG THALM/SH SH began coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a "neutral" rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH's price objective points to a potential downside of 3.10% from the stock's current price.

Separately, Robert W. Baird initiated coverage on Beta Bionics in a report on Thursday. They issued a "neutral" rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.83.

Beta Bionics Stock Up 0.3 %

Shares of NASDAQ:BBNX traded up $0.07 during midday trading on Thursday, hitting $20.64. The company's stock had a trading volume of 259,379 shares, compared to its average volume of 337,780. Beta Bionics has a fifty-two week low of $20.00 and a fifty-two week high of $24.50.

Insider Activity at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the firm's stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the purchase, the insider now directly owns 3,901,599 shares of the company's stock, valued at approximately $66,327,183. This represents a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mike Mensinger acquired 33,350 shares of the company's stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $17.00 per share, with a total value 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 position. The disclosure for this purchase can be found here.

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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.