Beta Bionics (NASDAQ:BBNX) Shares Up 7.1% – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNX)’s stock price was up 7.1% on Friday . The stock traded as high as $15.20 and last traded at $15.03. Approximately 37,084 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 359,178 shares. The stock had previously closed at $14.04.

Analyst Ratings Changes

Several research firms have recently commented on BBNX. Robert W. Baird assumed coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH began coverage on Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Leerink Partnrs upgraded Beta Bionics to a “strong-buy” rating in a report on Monday, February 24th. Lake Street Capital assumed coverage on Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Bank of America started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Beta Bionics Trading Up 10.5 %

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the transaction, the insider now owns 3,901,599 shares in the company, valued at $66,327,183. The trade was a 34.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mike Mensinger acquired 33,350 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired 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 approximately $1,003,323. This represents a 129.92 % 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.