Beta Bionics (NASDAQ:BBNX) Posts Earnings Results

Beta Bionics (NASDAQ:BBNX - Get Free Report) released its earnings results on Tuesday. The company reported ($1.82) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($1.40), Zacks reports. The company had revenue of $20.44 million for the quarter, compared to the consensus estimate of $20.01 million. Beta Bionics updated its FY 2025 guidance to EPS.

Beta Bionics Trading Down 7.6 %

Beta Bionics stock traded down $0.96 during mid-day trading on Friday, hitting $11.71. The company had a trading volume of 824,555 shares, compared to its average volume of 490,934. Beta Bionics has a 12-month low of $11.43 and a 12-month high of $24.50. The firm's fifty day moving average is $18.76.

Analyst Ratings Changes

BBNX has been the subject of several research reports. Baird R W upgraded shares of Beta Bionics to a "hold" rating in a research note on Thursday, February 20th. Leerink Partners began coverage on Beta Bionics in a research report on Monday, February 24th. They set an "outperform" rating and a $28.00 price target for the company. Robert W. Baird initiated coverage on Beta Bionics in a report on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price objective on the stock. Stifel Nicolaus assumed coverage on Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $25.00 target price for the company. Finally, Lake Street Capital initiated coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a "buy" rating and a $30.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.83.

Remove Ads

Insider Activity

In other Beta Bionics news, insider Mike Mensinger purchased 33,350 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of Beta Bionics stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $17.00 per share, with a total value of $17,000,000.00. Following the acquisition, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. This trade represents a 34.46 % increase in their position. 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.