Bank of America Begins Coverage on Beta Bionics (NASDAQ:BBNX)

Bank of America assumed coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report published on Monday, Marketbeat reports. The firm issued a buy rating on the stock.

Several other equities analysts have also issued reports on BBNX. LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Baird R W raised Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Stifel Nicolaus began coverage on shares of Beta Bionics in a research report on Monday. They set a “buy” rating and a $25.00 price objective for the company. Piper Sandler initiated coverage on shares of Beta Bionics in a research report on Monday. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Robert W. Baird assumed coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target for the company. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Price Performance

Beta Bionics stock opened at $19.99 on Monday. Beta Bionics has a 52 week low of $18.67 and a 52 week high of $24.50.

Insider Buying and Selling

In other news, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of Beta Bionics stock in a transaction dated 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 completion of the acquisition, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike Mensinger purchased 33,350 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now owns 59,019 shares of the company’s stock, valued at $1,003,323. This 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.