Beta Bionics, Inc.’s Lock-Up Period Will Expire on July 29th (NASDAQ:BBNX)

Beta Bionics’ (NASDAQ:BBNX) lock-up period will expire on Tuesday, July 29th. Beta Bionics had issued 12,000,000 shares in its public offering on January 30th. The total size of the offering was $204,000,000 based on an initial share price of $17.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Beta Bionics in a research report on Friday, May 30th. They issued a “neutral” rating and a $16.00 price target for the company. Wolfe Research started coverage on Beta Bionics in a research report on Friday, May 30th. They set an “outperform” rating and a $20.00 target price on the stock. Lake Street Capital started coverage on Beta Bionics in a research report on Thursday, June 12th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Truist Financial started coverage on Beta Bionics in a research report on Monday, June 16th. They set a “buy” rating and a $26.00 target price on the stock. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.44.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $14.30 on Tuesday. The company’s fifty day moving average is $15.61. Beta Bionics has a one year low of $8.89 and a one year high of $24.50.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.01).

Insiders Place Their Bets

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 45,503 shares in the company, valued at $814,048.67. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 4,519 shares of company stock valued at $80,845 in the last three months.

Institutional Trading of Beta Bionics

Several hedge funds and other institutional investors have recently modified their holdings of BBNX. Palumbo Wealth Management LLC acquired a new position in Beta Bionics during the second quarter worth $431,000. Goldman Sachs Group Inc. acquired a new position in Beta Bionics during the first quarter worth $715,000. Rhumbline Advisers acquired a new position in Beta Bionics during the first quarter worth $158,000. Strs Ohio acquired a new position in Beta Bionics during the first quarter worth $29,000. Finally, Woodline Partners LP acquired a new position in Beta Bionics during the first quarter worth $1,530,000.

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.