Lake Street Capital Initiates Coverage on Beta Bionics (NASDAQ:BBNX)

Lake Street Capital assumed coverage on shares of Beta Bionics (NASDAQ:BBNX) in a report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $30.00 price objective on the stock.

Several other research firms have also recently weighed in on BBNX. Wolfe Research started coverage on shares of Beta Bionics in a research note on Friday, May 30th. They set an “outperform” rating and a $20.00 target price for the company. Robert W. Baird started coverage on shares of Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Piper Sandler initiated coverage on Beta Bionics in a report on Monday, February 24th. They set an “overweight” rating and a $26.00 price target for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.13.

Beta Bionics Price Performance

NASDAQ:BBNX opened at $19.49 on Thursday. The stock’s 50-day simple moving average is $13.74. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $24.50.

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

Insider Activity at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $26,781.33. Following the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $814,048.67. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 4,519 shares of company stock valued at $80,845.

Hedge Funds Weigh In On Beta Bionics

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Beta Bionics during the 1st quarter valued at $29,000. Corebridge Financial Inc. bought a new position in Beta Bionics during the first quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Beta Bionics during the first quarter valued at $95,000. MetLife Investment Management LLC purchased a new stake in shares of Beta Bionics in the first quarter valued at $102,000. Finally, Deutsche Bank AG purchased a new stake in shares of Beta Bionics in the first quarter valued at $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.