Beta Bionics (NASDAQ:BBNX) Now Covered by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $30.00 price objective on the stock.

A number of other brokerages have also issued reports on BBNX. Bank of America assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating for the company. The Goldman Sachs Group assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued a “neutral” rating and a $16.00 price target for the company. LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target for the company. Wolfe Research assumed coverage on shares of Beta Bionics in a research note on Friday, May 30th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Stifel Nicolaus assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating and a $25.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Beta Bionics Stock Performance

NASDAQ BBNX opened at $19.09 on Thursday. The stock’s fifty day moving average price is $13.92. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $24.50.

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

Insiders Place Their Bets

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the 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 sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at approximately $814,048.67. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 4,519 shares of company stock valued at $80,845.

Institutional Trading of Beta Bionics

A number of large investors have recently modified their holdings of the company. Eventide Asset Management LLC acquired a new stake in shares of Beta Bionics in the 1st quarter worth about $60,307,000. Wellington Management Group LLP acquired a new stake in shares of Beta Bionics in the 1st quarter worth about $47,346,000. Sands Capital Ventures LLC acquired a new stake in shares of Beta Bionics in the 1st quarter worth about $37,990,000. Omega Fund Management LLC acquired a new stake in shares of Beta Bionics in the 1st quarter worth about $24,337,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Beta Bionics in the 1st quarter worth about $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.