Beta Bionics (NASDAQ:BBNX) Stock Price Up 7.1% – Here’s Why

Beta Bionics, Inc. (NASDAQ:BBNXGet Free Report)’s share price shot up 7.1% on Friday . The stock traded as high as $15.20 and last traded at $15.03. 37,084 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 359,178 shares. The stock had previously closed at $14.04.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBNX. Robert W. Baird began coverage on Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price for the company. Lake Street Capital assumed coverage on Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating and a $30.00 target price for the company. Bank of America assumed coverage on Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.83.

Read Our Latest Stock Analysis on BBNX

Beta Bionics Stock Up 10.5 %

Insider Activity at Beta Bionics

In related news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was bought at an average price of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the transaction, the insider now owns 3,901,599 shares of the company’s stock, valued at approximately $66,327,183. This represents a 34.46 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike Mensinger purchased 33,350 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $17.00 per share, with a total value of $566,950.00. Following the transaction, the insider now directly owns 59,019 shares of the company’s stock, valued at $1,003,323. This represents a 129.92 % increase in their position. The disclosure for this purchase can be found here.

Beta Bionics Company Profile

(Get Free Report)

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.

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