Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Beta Bionics, Inc. (NASDAQ:BBNX) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.83.

A number of brokerages have commented on BBNX. Piper Sandler began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “overweight” rating and a $26.00 target price on the stock. Stifel Nicolaus began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating and a $25.00 target price on the stock. 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 target price on the stock. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Finally, Leerink Partners began coverage on shares of Beta Bionics in a research note on Monday, February 24th. They set an “outperform” rating and a $28.00 price objective on the stock.

Beta Bionics Stock Up 5.3 %

Beta Bionics stock opened at $20.97 on Monday. Beta Bionics has a 1-year low of $18.67 and a 1-year high of $24.50.

Insider Activity at Beta Bionics

In other news, insider Mike Mensinger bought 33,350 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, with a total value 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 approximately $1,003,323. The trade was a 129.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $17.00 per share, with a total value 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. The trade was a 34.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

About Beta Bionics

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.