Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.44.

Several equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued an “outperform” rating and a $20.00 price target on the stock. Lake Street Capital assumed coverage on shares of Beta Bionics in a research note on Thursday, June 12th. They issued a “buy” rating and a $30.00 target price on the stock. Truist Financial assumed coverage on shares of Beta Bionics in a research report on Monday, June 16th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued a “neutral” rating and a $16.00 price objective on the stock.

Insider Transactions at Beta Bionics

In related 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 value of $26,781.33. Following the sale, the chief financial officer owned 45,503 shares in the company, valued at approximately $814,048.67. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 4,519 shares of company stock valued at $80,845.

Hedge Funds Weigh In On Beta Bionics

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Beta Bionics in the first quarter worth approximately $29,000. Corebridge Financial Inc. acquired a new stake in Beta Bionics in the first quarter valued at approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Beta Bionics in the 1st quarter worth $95,000. MetLife Investment Management LLC acquired a new stake in Beta Bionics in the first quarter worth about $102,000. Finally, Deutsche Bank AG acquired a new stake in Beta Bionics in the 1st quarter worth approximately $148,000.

Beta Bionics Stock Performance

Shares of BBNX opened at $14.77 on Thursday. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $24.50. The firm has a fifty day simple moving average of $15.69.

Beta Bionics (NASDAQ:BBNX) last issued its quarterly earnings data 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).

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.