Beta Bionics, Inc. (NASDAQ:BBNX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.83.

BBNX has been the subject of a number of analyst reports. Bank of America began coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating for the company. Lake Street Capital began coverage on shares of Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $30.00 price target for the company. Robert W. Baird assumed coverage on Beta Bionics in a report on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price objective on the stock. Stifel Nicolaus assumed coverage on Beta Bionics in a research report on Monday, February 24th. They issued a "buy" rating and a $25.00 price objective for the company. Finally, Baird R W raised Beta Bionics to a "hold" rating in a research note on Thursday, February 20th.

Beta Bionics Trading Up 1.8 %

BBNX stock traded up $0.20 during mid-day trading on Tuesday, reaching $11.14. The company's stock had a trading volume of 421,363 shares, compared to its average volume of 497,870. The company's 50 day moving average price is $15.40. Beta Bionics has a fifty-two week low of $8.89 and a fifty-two week high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($0.42) by ($1.40). The company had revenue of $20.44 million during the quarter, compared to analysts' expectations of $20.01 million.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Beta Bionics

An institutional investor recently bought a new position in Beta Bionics stock. Rhumbline Advisers bought a new position in shares of Beta Bionics, Inc. (NASDAQ:BBNX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,880 shares of the company's stock, valued at approximately $158,000.

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.