Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) Price Target at $23.44

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.44.

Several equities research analysts recently issued reports on the company. Truist Financial started coverage on Beta Bionics in a report on Monday, June 16th. They set a "buy" rating and a $26.00 price target for the company. Lake Street Capital started coverage on Beta Bionics in a research report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective on the stock. Wolfe Research started coverage on Beta Bionics in a research report on Friday, May 30th. They issued an "outperform" rating and a $20.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective on the stock.

Beta Bionics Trading Up 2.8%

NASDAQ BBNX traded up $0.41 during mid-day trading on Thursday, hitting $14.84. The company's stock had a trading volume of 355,443 shares, compared to its average volume of 429,826. The firm's 50 day moving average price is $15.71. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.01).

Insider Activity at Beta Bionics

In other news, CFO Stephen Feider sold 1,497 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at $814,048.67. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 4,519 shares of company stock worth $80,845.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers purchased a new stake in Beta Bionics during the 1st quarter worth about $158,000. Values First Advisors Inc. purchased a new stake in Beta Bionics during the 1st quarter worth about $457,000. Evanson Asset Management LLC purchased a new stake in Beta Bionics during the 1st quarter worth about $475,000. Jennison Associates LLC purchased a new stake in Beta Bionics during the 1st quarter worth about $828,000. Finally, Driehaus Capital Management LLC purchased a new stake in Beta Bionics during the 1st quarter worth about $10,799,000.

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.