Beta Bionics (NASDAQ:BBNX) Issues Quarterly Earnings Results

Key Points

• Beta Bionics (NASDAQ:BBNX) reported quarterly earnings of ($0.39) EPS, exceeding estimates by $0.12.
• The stock experienced a price increase, trading up by $0.67 to reach $14.66, with a significant trading volume of 703,461 shares.
• Analysts have generally rated the stock with a consensus of "Moderate Buy," with a target price averaging $23.44, reflecting positive outlooks from multiple firms.

Beta Bionics (NASDAQ:BBNX - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12, Zacks reports. The business had revenue of $23.24 million during the quarter, compared to analyst estimates of $19.73 million. Beta Bionics updated its FY 2025 guidance to EPS.

Beta Bionics Trading Down 2.3%

Shares of NASDAQ:BBNX traded down $0.39 during trading on Friday, reaching $16.40. The company had a trading volume of 514,719 shares, compared to its average volume of 527,705. Beta Bionics has a fifty-two week low of $8.89 and a fifty-two week high of $24.50. The firm's fifty day moving average price is $15.71.

Insider Buying and Selling at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $26,781.33. Following the transaction, the chief financial officer directly owned 45,503 shares of the company's stock, valued at approximately $814,048.67. The trade was a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 4,519 shares of company stock worth $80,845 over the last three months.

Institutional Trading of Beta Bionics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP purchased a new position in Beta Bionics during the first quarter worth about $1,530,000. Goldman Sachs Group Inc. acquired a new position in Beta Bionics during the 1st quarter worth approximately $715,000. Rhumbline Advisers purchased a new position in shares of Beta Bionics during the 1st quarter worth approximately $158,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Beta Bionics during the 1st quarter worth approximately $95,000. Finally, Strs Ohio acquired a new stake in shares of Beta Bionics in the 1st quarter valued at approximately $29,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BBNX shares. Lake Street Capital assumed coverage on shares of Beta Bionics in a research report on Thursday, June 12th. They set a "buy" rating and a $30.00 price objective for the company. The Goldman Sachs Group assumed coverage on Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective on the stock. Robert W. Baird set a $17.00 target price on Beta Bionics and gave the stock a "neutral" rating in a research note on Wednesday. Truist Financial increased their price target on Beta Bionics from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wolfe Research began coverage on Beta Bionics in a research report on Friday, May 30th. They set an "outperform" rating and a $20.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Beta Bionics currently has an average rating of "Moderate Buy" and an average target price of $22.56.

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.