Beta Bionics (NASDAQ:BBNX) Now Covered by Truist Financial

Equities researchers at Truist Financial began coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $26.00 price target on the stock. Truist Financial's price objective would indicate a potential upside of 36.20% from the company's current price.

A number of other research firms have also weighed in on BBNX. Wolfe Research started coverage on shares of Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 target price on the stock. Lake Street Capital started coverage on shares of Beta Bionics in a research note on Thursday. They issued a "buy" rating and a $30.00 price objective on the stock. Stifel Nicolaus started coverage on Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating and a $25.00 target price for the company. Leerink Partnrs raised Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Finally, LADENBURG THALM/SH SH began coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price target for the company. 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.44.

Beta Bionics Stock Down 2.1%

Shares of NASDAQ:BBNX opened at $19.09 on Monday. Beta Bionics has a one year low of $8.89 and a one year high of $24.50. The company has a 50 day moving average of $13.92.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released 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 Activity

In related news, CFO Stephen Feider sold 1,497 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 45,503 shares of the company's stock, valued at $814,048.67. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 4,519 shares of company stock worth $80,845 in the last quarter.

Hedge Funds Weigh In On Beta Bionics

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

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