Beta Bionics (NASDAQ:BBNX) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Several other brokerages have also recently commented on BBNX. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. The Goldman Sachs Group initiated coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued a “neutral” rating and a $16.00 price objective for the company. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Piper Sandler started coverage on shares of Beta Bionics in a report on Monday, February 24th. They set an “overweight” rating and a $26.00 target price for the company. Finally, Stifel Nicolaus started coverage on shares of Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $25.00 target price for the company. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.13.

Beta Bionics Trading Down 2.1%

NASDAQ BBNX opened at $19.09 on Thursday. The firm has a fifty day moving average of $13.92. Beta Bionics has a 12 month low of $8.89 and a 12 month high of $24.50.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.01).

Insider Transactions at Beta Bionics

In related news, CFO Stephen Feider sold 1,497 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $26,781.33. Following the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at approximately $814,048.67. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,519 shares of company stock worth $80,845 over the last ninety days.

Institutional Investors Weigh In On Beta Bionics

Hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Beta Bionics in the first quarter worth approximately $29,000. Corebridge Financial Inc. acquired a new position in Beta Bionics during the first quarter valued at approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Beta Bionics during the first quarter valued at approximately $95,000. MetLife Investment Management LLC acquired a new position in Beta Bionics during the first quarter valued at approximately $102,000. Finally, Deutsche Bank AG acquired a new position in Beta Bionics during the first quarter valued at approximately $148,000.

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.