Beta Bionics (NASDAQ:BBNX) Earns Buy Rating from Analysts at Lake Street Capital

Equities researchers at Lake Street Capital began coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a "buy" rating and a $30.00 price target on the stock. Lake Street Capital's price objective would indicate a potential upside of 57.15% from the stock's previous close.

Several other research firms also recently weighed in on BBNX. Stifel Nicolaus started 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. Wolfe Research began coverage on Beta Bionics in a report on Friday, May 30th. They set an "outperform" rating and a $20.00 price target on the stock. The Goldman Sachs Group began coverage on Beta Bionics in a report on Friday, May 30th. They set a "neutral" rating and a $16.00 price target on the stock. 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 objective for the company. Finally, Leerink Partnrs upgraded Beta Bionics to a "strong-buy" rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.13.

Beta Bionics Stock Performance

NASDAQ:BBNX traded down $0.40 during trading hours on Thursday, hitting $19.09. 454,762 shares of the company's stock traded hands, compared to its average volume of 499,635. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $24.50. The company has a fifty day moving average of $13.92.

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 the consensus estimate of ($0.51) by ($0.01).

Insiders Place Their Bets

In related news, CFO Stephen Feider sold 1,497 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $26,781.33. Following the completion of the sale, the chief financial officer now owns 45,503 shares of the company's stock, valued at approximately $814,048.67. This represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 4,519 shares of company stock worth $80,845.

Institutional Trading of Beta Bionics

Several hedge funds have recently made changes to their positions in BBNX. Strs Ohio acquired a new position in shares of Beta Bionics in the 1st quarter worth approximately $29,000. Corebridge Financial Inc. purchased a new position in shares of Beta Bionics in the 1st quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Beta Bionics in the 1st quarter valued at $95,000. MetLife Investment Management LLC purchased a new position in Beta Bionics during the 1st quarter worth $102,000. Finally, Deutsche Bank AG acquired a new stake in shares of Beta Bionics in the 1st quarter worth $148,000.

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.