Beta Bionics Coverage Initiated by Lake Street Capital

Lake Street Capital has recently started its coverage on Beta Bionics (NASDAQ:BBNX) in a newly released research report on Monday. In this report, they issued a "buy" rating for the stock along with a price target of $30.00. This target suggests a potential upside of approximately 45.84% from the current price of the company's shares.

Other analysts have also shown interest in Beta Bionics. For instance, Robert W. Baird initiated coverage earlier last week, assigning a "neutral" rating and a price target of $20.00. Similarly, Piper Sandler began covering Beta Bionics on the same Monday as Lake Street, giving the company an "overweight" rating and a target price of $26.00. On that Thursday, LADENBURG THALM/SH SH also started coverage with a "neutral" rating and a target of $20.00. Additionally, Leerink Partners joined in on Monday, rating Beta Bionics as "outperform" with a $28.00 price target. R W Baird has also recently updated their rating to "hold".

Overall, among research analysts, three have given a "hold" rating while four have recommended buying the stock. According to MarketBeat.com data, the consensus rating is currently at a "Moderate Buy". The average target price stands at $24.83.

Current Stock Performance of Beta Bionics

On Monday, Beta Bionics shares opened at $20.57. The stock has traded within a range, hitting a one-year low of $20.57 and a high of $24.50.

Insider Activity

In related developments, insider Mike Mensinger made a notable purchase of 33,350 shares of Beta Bionics on January 31st, buying them at an average price of $17.00 per share. This acquisition totals to about $566,950.00 and has increased his ownership by 129.92%, bringing his total shares to 59,019, which are now valued at over $1 million. This insider trade was documented in a filing with the Securities and Exchange Commission (SEC).

Furthermore, major shareholder Hadley Harbor Aggre Wellington also bought a significant amount of shares, acquiring 1,000,000 shares at $17.00 each for a total of $17,000,000.00. Following this transaction, this shareholder's holdings increased to 3,901,599 shares, worth about $66.3 million, marking a 34.46% rise in ownership. The details of this transaction can also be found in SEC disclosures.

About Beta Bionics

Beta Bionics, Inc., founded on October 21, 2015, is a commercial-stage medical device company headquartered in Irvine, CA. The company's focus is on the design, development, and marketing of devices aimed at people with diabetes who require insulin.

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This news alert is created using advanced financial data and reporting tools to ensure timely and accurate information delivery.

Considerations for Investors

Before making investment decisions regarding Beta Bionics, it is crucial to analyze all available information. While Beta Bionics currently holds a "Moderate Buy" rating from analysts, some experts suggest that there may be better investment opportunities available.

For more detailed analysis from leading analysts, consider exploring other promising stocks to invest in.

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