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

Lake Street Capital initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Other equities analysts have also issued reports about the company. Robert W. Baird assumed coverage on Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 target price on the stock. Piper Sandler initiated coverage on Beta Bionics in a research note on Monday. They issued an “overweight” rating and a $26.00 price objective on the stock. Leerink Partners assumed coverage on Beta Bionics in a research report on Monday. They set an “outperform” rating and a $28.00 target price for the company. Baird R W upgraded Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Finally, LADENBURG THALM/SH SH 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Price Performance

Beta Bionics stock opened at $20.60 on Monday. Beta Bionics has a 1-year low of $20.00 and a 1-year high of $24.50.

Insiders Place Their Bets

In related news, insider Mike Mensinger acquired 33,350 shares of the stock in a transaction dated 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 purchase, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $17.00 per share, for a total transaction of $17,000,000.00. Following the transaction, the insider now directly owns 3,901,599 shares of the company’s stock, valued at $66,327,183. This trade represents a 34.46 % 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.