Beta Bionics (NASDAQ:BBNX) Issues Earnings Results, Misses Estimates By $1.40 EPS

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

Beta Bionics Stock Performance

Shares of BBNX stock traded up $0.37 on Tuesday, hitting $15.22. The company’s stock had a trading volume of 416,428 shares, 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.

Analyst Ratings Changes

BBNX has been the topic of a number of research analyst reports. Leerink Partnrs raised shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 24th. Piper Sandler initiated coverage on Beta Bionics in a research note on Monday, February 24th. They issued an “overweight” rating and a $26.00 price objective on the stock. Leerink Partners began coverage on Beta Bionics in a research note on Monday, February 24th. They set an “outperform” rating and a $28.00 target price for the company. Bank of America initiated coverage on Beta Bionics in a report on Monday, February 24th. They set a “buy” rating on the stock. Finally, Lake Street Capital initiated coverage on Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $30.00 price target for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Insiders Place Their Bets

In other Beta Bionics news, insider Mike Mensinger purchased 33,350 shares of the company’s 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 completion of the transaction, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. This represents a 129.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the insider now owns 3,901,599 shares of the company’s stock, 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.