Beta Bionics (NASDAQ:BBNX) Coverage Initiated at Lake Street Capital

Lake Street Capital began coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $30.00 price target on the stock. Lake Street Capital’s target price indicates a potential upside of 45.84% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird assumed coverage on Beta Bionics in a report on Thursday. They set a “neutral” rating and a $20.00 price target for the company. Piper Sandler began coverage on Beta Bionics in a report on Monday. They set an “overweight” rating and a $26.00 target price for the company. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research note on Thursday. They issued a “neutral” rating and a $20.00 price objective on the stock. Leerink Partners initiated coverage on Beta Bionics in a report on Monday. They set an “outperform” rating and a $28.00 price target for the company. Finally, Baird R W raised Beta Bionics to a “hold” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Stock Performance

Shares of Beta Bionics stock opened at $20.57 on Monday. Beta Bionics has a 1 year low of $20.57 and a 1 year high of $24.50.

Insiders Place Their Bets

In related news, insider Mike Mensinger bought 33,350 shares of the business’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, with a total value of $17,000,000.00. Following the purchase, the insider now owns 3,901,599 shares in the company, valued at $66,327,183. This trade represents 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.