Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report)'s share price shot up 7.2% on Thursday . The company traded as high as $15.52 and last traded at $15.47. 133,660 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 477,213 shares. The stock had previously closed at $14.43.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BBNX. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a report on Friday. They set a "neutral" rating and a $16.00 price objective for the company. Wolfe Research assumed coverage on shares of Beta Bionics in a research report on Friday. They set an "outperform" rating and a $20.00 price objective on the stock. Lake Street Capital started coverage on shares of Beta Bionics in a research note on Monday, February 24th. They set a "buy" rating and a $30.00 price target for the company. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a "neutral" rating and a $20.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Beta Bionics to a "strong-buy" rating in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.13.
Get Our Latest Report on BBNX
Beta Bionics Stock Performance
The company's fifty day moving average is $12.38.
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).
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC bought a new stake in Beta Bionics during the 1st quarter worth $10,799,000. Ghisallo Capital Management LLC bought a new position in shares of Beta Bionics during the 1st quarter worth $612,000. Omega Fund Management LLC bought a new position in shares of Beta Bionics in the first quarter worth $24,337,000. Walleye Capital LLC bought a new position in shares of Beta Bionics in the first quarter worth $1,813,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Beta Bionics during the 1st quarter valued at $47,346,000.
About Beta Bionics
(
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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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