Truist Financial Begins Coverage on Beta Bionics (NASDAQ:BBNX)

Stock analysts at Truist Financial initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 42.62% from the stock’s current price.

Several other equities research analysts have also recently weighed in on BBNX. Baird R W raised shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Leerink Partners began coverage on Beta Bionics in a research report on Monday, February 24th. They set an “outperform” rating and a $28.00 price target for the company. LADENBURG THALM/SH SH started coverage on Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Piper Sandler started coverage on Beta Bionics in a research note on Monday, February 24th. They set an “overweight” rating and a $26.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Beta Bionics presently has an average rating of “Moderate Buy” and a consensus target price of $23.44.

Beta Bionics Trading Down 6.3%

BBNX opened at $18.23 on Monday. Beta Bionics has a 12 month low of $8.89 and a 12 month high of $24.50. The business has a 50-day moving average of $14.25.

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

Insider Buying and Selling at Beta Bionics

In other Beta Bionics 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 transaction of $26,781.33. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 4,519 shares of company stock valued at $80,845.

Institutional Trading of Beta Bionics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC purchased a new position in Beta Bionics during the first quarter valued at $60,307,000. Wellington Management Group LLP purchased a new position in shares of Beta Bionics in the 1st quarter worth about $47,346,000. Sands Capital Ventures LLC purchased a new position in shares of Beta Bionics in the 1st quarter worth about $37,990,000. Omega Fund Management LLC bought a new position in Beta Bionics in the 1st quarter worth about $24,337,000. Finally, Driehaus Capital Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at about $10,799,000.

About Beta Bionics

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.