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

Beta Bionics’ (NASDAQ:BBNX) quiet period is set to expire on Tuesday, March 11th. 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. During Beta Bionics’ quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBNX. Bank of America assumed coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating for the company. 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 for the company. 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 for the company. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Beta Bionics currently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX opened at $16.14 on Monday. Beta Bionics has a twelve month low of $15.85 and a twelve month high of $24.50.

Insider Transactions at Beta Bionics

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

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.