Piper Sandler Initiates Coverage on Beta Bionics (NASDAQ:BBNX)

Piper Sandler initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $26.00 price target on the stock.

Several other equities research analysts have also recently weighed in on BBNX. Baird R W raised Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Robert W. Baird began coverage on Beta Bionics in a research report on Thursday, February 20th. They set a “neutral” rating and a $20.00 target price on the stock. LADENBURG THALM/SH SH started coverage on Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Leerink Partners initiated coverage on shares of Beta Bionics in a research note on Monday. They set an “outperform” rating and a $28.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.83.

Beta Bionics Price Performance

Shares of NASDAQ:BBNX opened at $20.60 on Monday. Beta Bionics has a 52 week low of $20.00 and a 52 week high of $24.50.

Insider Activity at Beta Bionics

In related news, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the acquisition, the insider now directly owns 3,901,599 shares of the company’s stock, valued at $66,327,183. This represents a 34.46 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mike Mensinger acquired 33,350 shares of the stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $17.00 per share, with a total value of $566,950.00. Following the completion of the transaction, the insider now owns 59,019 shares in the company, valued at $1,003,323. This trade represents a 129.92 % 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.