Beta Bionics (NASDAQ:BBNX) Announces Earnings Results

Beta Bionics (NASDAQ:BBNX) released its quarterly earnings results on Tuesday. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($1.40), Zacks reports. Beta Bionics updated its FY 2025 guidance to EPS.

Beta Bionics Stock Performance

Shares of NASDAQ:BBNX traded up $0.37 during midday trading on Tuesday, reaching $15.22. 416,428 shares of the company were exchanged, compared to its average volume of 458,405. Beta Bionics has a fifty-two week low of $13.64 and a fifty-two week high of $24.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BBNX shares. Piper Sandler assumed coverage on Beta Bionics in a research report on Monday, February 24th. They issued an “overweight” rating and a $26.00 price objective for the company. Lake Street Capital assumed coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a “buy” rating and a $30.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price target on the stock. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Leerink Partners started coverage on Beta Bionics in a research report on Monday, February 24th. They set an “outperform” rating and a $28.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Insider Activity

In other Beta Bionics news, insider Mike Mensinger acquired 33,350 shares of Beta Bionics stock in a transaction dated Friday, January 31st. The stock was bought at an average cost 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 represents a 129.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price 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 represents 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.