Lake Street Capital Begins Coverage on Beta Bionics (NASDAQ:BBNX)

Equities research analysts at Lake Street Capital began coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a report issued on Thursday, Marketbeat reports. The firm set a "buy" rating and a $30.00 price target on the stock. Lake Street Capital's price target points to a potential upside of 55.28% from the company's current price.

A number of other research firms also recently issued reports on BBNX. Piper Sandler started coverage on Beta Bionics in a research report on Monday, February 24th. They issued an "overweight" rating and a $26.00 target price for the company. Baird R W raised Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Wolfe Research initiated coverage on shares of Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 target price for the company. Leerink Partnrs upgraded Beta Bionics to a "strong-buy" rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 target price for the company. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.13.

Beta Bionics Stock Performance

Shares of BBNX stock traded down $0.17 during midday trading on Thursday, hitting $19.32. 326,422 shares of the company were exchanged, compared to its average volume of 498,017. The firm has a 50 day moving average price of $13.74. Beta Bionics has a 52 week low of $8.89 and a 52 week 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) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.01).

Insider Activity at Beta Bionics

In other news, CFO Stephen Feider sold 1,497 shares of Beta Bionics stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $26,781.33. Following the completion of the transaction, the chief financial officer now owns 45,503 shares of the company's stock, valued at $814,048.67. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,519 shares of company stock valued at $80,845 in the last three months.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Eventide Asset Management LLC purchased a new position in shares of Beta Bionics during the first quarter valued at approximately $60,307,000. Wellington Management Group LLP purchased a new stake in Beta Bionics during the 1st quarter valued at $47,346,000. Sands Capital Ventures LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $37,990,000. Omega Fund Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at $24,337,000. Finally, Driehaus Capital Management LLC purchased a new stake in Beta Bionics during 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.