Beta Bionics, Inc. (NASDAQ:BBNX) Given Consensus Rating of “Moderate Buy” by Brokerages

Beta Bionics, Inc. (NASDAQ:BBNX) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $23.13.

BBNX has been the subject of several recent analyst reports. LADENBURG THALM/SH SH began coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price for the company. Lake Street Capital began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $30.00 target price for the company. Baird R W raised shares of Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Leerink Partners initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of Beta Bionics in a report on Friday, May 30th. They issued an “outperform” rating and a $20.00 target price on the stock.

Insider Activity at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the business’s 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 owns 45,503 shares in the company, valued at $814,048.67. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 4,519 shares of company stock valued at $80,845 over the last 90 days.

Institutional Inflows and Outflows

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

Beta Bionics Price Performance

Shares of NASDAQ BBNX opened at $19.27 on Wednesday. Beta Bionics has a 1 year low of $8.89 and a 1 year high of $24.50. The company’s 50-day simple moving average is $13.37.

Beta Bionics (NASDAQ:BBNX) last issued its 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).

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.