Lake Street Capital Initiates Coverage on Beta Bionics

On Monday, Lake Street Capital announced that they have begun coverage of Beta Bionics (NASDAQ:BBNX - Get Free Report) in a research report directed at clients and investors. The firm has given a "buy" rating for the stock and set a price target of $30.00. This target suggests a potential upside of 45.84% based on the company's current stock price.

In addition to Lake Street Capital, various other research analysts have provided their insights on Beta Bionics. For instance, Robert W. Baird initiated coverage of the company last Thursday, assigning a "neutral" rating along with a $20.00 price target. Piper Sandler also began their coverage on the same day as Lake Street, setting an "overweight" rating with a price target of $26.00. Furthermore, LADENBURG THALM/SH SH started coverage with a "neutral" rating and a price objective of $20.00. Additionally, Leerink Partners issued their coverage with an "outperform" rating and a target price of $28.00.

In summary, three research analysts have rated Beta Bionics with a hold rating, while four have issued a buy rating. Current consensus from analysts indicates a "Moderate Buy" with an average target price around $24.83, as noted by MarketBeat.com.

Current Stock Performance

On Monday, Beta Bionics shares opened at $20.57. The stock has fluctuated within the past year, reaching a low of $20.57 and a high of $24.50.

Insider Trading Activity

In related news, recent insider trading activity indicates strong confidence in Beta Bionics. For example, insider Mike Mensinger purchased 33,350 shares on January 31st at an average price of $17.00, totaling about $566,950. Post-acquisition, Mensinger now owns a total of 59,019 shares, which is valued at over $1,000,000, representing a 129.92% increase in his holdings. This information was disclosed to the Securities & Exchange Commission.

Moreover, a significant investment was also made by major shareholder Hadley Harbor Aggre Wellington, who acquired 1,000,000 shares at the same average price of $17.00, amounting to a total investment of $17,000,000. Following this purchase, they now hold approximately 3,901,599 shares valued at around $66 million, reflecting a 34.46% increase in ownership.

About Beta Bionics

Beta Bionics, Inc. is a commercial-stage medical device company that focuses on designing, developing, and commercializing innovative solutions targeted at insulin-requiring individuals with diabetes. Founded by Edward R. Damiano on October 21, 2015, the company is based in Irvine, California.

Conclusion

This significant initiation of coverage by Lake Street Capital, along with positive insights from other analysts, paints an optimistic picture for Beta Bionics moving forward.

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