Beta Bionics (NASDAQ:BBNX) Earns Overweight Rating from Analysts at Piper Sandler

Research analysts at Piper Sandler initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report issued on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $26.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 26.40% from the stock’s current price.

Several other analysts have also commented on the company. Baird R W upgraded Beta Bionics to a “hold” rating in a report on Thursday. Leerink Partners assumed coverage on Beta Bionics in a research note on Monday. They issued an “outperform” rating and a $28.00 price target for the company. LADENBURG THALM/SH SH began coverage on Beta Bionics in a research note on Thursday. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Robert W. Baird started coverage on shares of Beta Bionics in a research report on Thursday. They issued a “neutral” rating and a $20.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Beta Bionics presently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Beta Bionics Stock Down 1.4 %

NASDAQ:BBNX opened at $20.57 on Monday. Beta Bionics has a 52 week low of $20.57 and a 52 week high of $24.50.

Insider Activity

In other news, insider Mike Mensinger bought 33,350 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the transaction, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. This represents a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of Beta Bionics stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the transaction, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. The trade was a 34.46 % 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.