Beta Bionics (NASDAQ:BBNX) Issues Quarterly Earnings Results

Beta Bionics (NASDAQ:BBNX) announced its quarterly earnings data on Tuesday. The company reported ($1.82) 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 Price Performance

BBNX stock traded up $0.37 during trading on Tuesday, hitting $15.22. 416,841 shares of the stock traded hands, compared to its average volume of 458,405. Beta Bionics has a one year low of $13.64 and a one year high of $24.50.

Insiders Place Their Bets

In other Beta Bionics news, insider Mike Mensinger purchased 33,350 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the transaction, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $17.00 per share, with a total value 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 represents a 34.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BBNX. Leerink Partnrs upgraded Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. Leerink Partners initiated coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “outperform” rating and a $28.00 price objective for the company. Piper Sandler began coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set an “overweight” rating and a $26.00 target price on the stock. Robert W. Baird assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Beta Bionics has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

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.