Beta Bionics (NASDAQ:BBNX) Coverage Initiated by Analysts at LADENBURG THALM/SH SH

Equities researchers at LADENBURG THALM/SH SH began coverage on shares of Beta Bionics (NASDAQ:BBNX) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH’s price target suggests a potential downside of 2.77% from the company’s previous close.

Separately, Robert W. Baird assumed coverage on Beta Bionics in a report on Thursday. They issued a “neutral” rating and a $20.00 price target for the company.

Beta Bionics Stock Down 1.4 %

BBNX stock opened at $20.57 on Thursday. Beta Bionics has a 12 month low of $20.57 and a 12 month high of $24.50.

Insider Activity

In other news, insider Mike Mensinger bought 33,350 shares of Beta Bionics stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $17.00 per share, with a total value of $566,950.00. Following the completion of the purchase, the insider now directly owns 59,019 shares of the company’s stock, valued at approximately $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased 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 $66,327,183. The trade was a 34.46 % 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.