Beta Bionics, Inc.’s (NASDAQ:BBNX) Quiet Period To End Tomorrow

Beta Bionics’ (NASDAQ:BBNX) quiet period is set to end on Tuesday, March 11th. Beta Bionics had issued 12,000,000 shares in its initial public offering on January 30th. The total size of the offering was $204,000,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

Several research firms have issued reports on BBNX. Lake Street Capital began coverage on shares of Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $30.00 price objective on the stock. Bank of America assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued a “buy” rating on the stock. Leerink Partners assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “outperform” rating and a $28.00 price target on the stock. Leerink Partnrs raised shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. 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 on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.83.

Beta Bionics Trading Down 9.4 %

Beta Bionics stock opened at $16.14 on Monday. Beta Bionics has a 12-month low of $15.85 and a 12-month high of $24.50.

Insider Buying and Selling

In related news, insider Mike Mensinger purchased 33,350 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the transaction, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $17.00 per share, with a total value of $17,000,000.00. Following the completion of the transaction, the insider now owns 3,901,599 shares of the company’s stock, valued at approximately $66,327,183. The trade was a 34.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.