Beta Bionics (NASDAQ:BBNX) Coverage Initiated at Wolfe Research

Wolfe Research assumed coverage on shares of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $20.00 price target on the stock. Wolfe Research's price target points to a potential upside of 8.17% from the stock's previous close.

Other research analysts have also issued reports about the stock. Baird R W upgraded shares of Beta Bionics to a "hold" rating in a research report on Thursday, February 20th. 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. Piper Sandler started coverage on Beta Bionics in a research note on Monday, February 24th. They issued an "overweight" rating and a $26.00 target price on the stock. Leerink Partners started coverage on Beta Bionics in a research report on Monday, February 24th. They set an "outperform" rating and a $28.00 price target for the company. Finally, LADENBURG THALM/SH SH started coverage on Beta Bionics in a report on Thursday, February 20th. They set a "neutral" rating and a $20.00 price objective for the company. Four investment 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.13.

Beta Bionics Stock Down 1.1%

NASDAQ BBNX traded down $0.20 during trading hours on Friday, hitting $18.49. The company had a trading volume of 309,740 shares, compared to its average volume of 492,369. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $24.50. The company's 50 day moving average is $12.49.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced 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).

Institutional Trading of Beta Bionics

Hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC purchased a new stake in shares of Beta Bionics in the 1st quarter valued at $10,799,000. Ghisallo Capital Management LLC purchased a new stake in Beta Bionics during the 1st quarter valued at about $612,000. Omega Fund Management LLC purchased a new position in Beta Bionics in the 1st quarter worth approximately $24,337,000. Walleye Capital LLC purchased a new stake in shares of Beta Bionics during the first quarter valued at approximately $1,813,000. Finally, Wellington Management Group LLP bought a new position in shares of Beta Bionics in the first quarter worth approximately $47,346,000.

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.