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

Shares of Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, six 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 updated their coverage on the stock in the last year is $23.13.

A number of equities analysts have issued reports on BBNX shares. Piper Sandler started coverage on Beta Bionics in a research report on Monday, February 24th. They set an "overweight" rating and a $26.00 price target on the stock. Leerink Partnrs raised Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Stifel Nicolaus assumed coverage on Beta Bionics in a research note on Monday, February 24th. They issued a "buy" rating and a $25.00 price target on the stock. Baird R W raised Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Finally, LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price target on the stock.

Insider Transactions at Beta Bionics

In related news, CFO Stephen Feider sold 1,497 shares of Beta Bionics 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 transaction, the chief financial officer now owns 45,503 shares in the company, 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 filing with the SEC, which can be accessed through this link. Insiders have sold 4,519 shares of company stock valued at $80,845 over the last ninety days.

Hedge Funds Weigh In On Beta Bionics

A number of institutional investors have recently added to or reduced their stakes in BBNX. Rhumbline Advisers purchased a new position in Beta Bionics during the first quarter worth approximately $158,000. Evanson Asset Management LLC purchased a new position in Beta Bionics during the first quarter worth approximately $475,000. Bank of New York Mellon Corp purchased a new position in Beta Bionics during the first quarter worth approximately $316,000. Values First Advisors Inc. purchased a new position in Beta Bionics during the first quarter worth approximately $457,000. Finally, Jennison Associates LLC purchased a new position in Beta Bionics during the first quarter worth approximately $828,000.

Beta Bionics Trading Down 2.4%

BBNX stock traded down $0.47 during mid-day trading on Wednesday, reaching $19.08. 583,609 shares of the company's stock were exchanged, compared to its average volume of 503,190. The firm has a 50 day moving average of $13.05. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $24.50.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last issued its quarterly earnings results 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).

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.