Beta Bionics (NASDAQ:BBNX) Announces 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) issued its quarterly earnings results on Tuesday. The company reported ($0.39) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.12, Zacks reports. The firm had revenue of $23.24 million for the quarter, compared to analyst estimates of $19.73 million. Beta Bionics updated its FY 2025 guidance to EPS.

Beta Bionics Trading Down 0.7%

NASDAQ BBNX traded down $0.11 during trading hours on Friday, reaching $16.68. The company's stock had a trading volume of 99,470 shares, compared to its average volume of 510,540. Beta Bionics has a 1-year low of $8.89 and a 1-year high of $24.50. The firm has a 50-day moving average price of $15.71.

Analyst Ratings Changes

A number of analysts have commented on the company. 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 target for the company. Truist Financial boosted their price objective on Beta Bionics from $18.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday. The Goldman Sachs Group began coverage on Beta Bionics in a report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective for the company. Robert W. Baird set a $17.00 price objective on Beta Bionics and gave the company a "neutral" rating in a report on Wednesday. Finally, Lake Street Capital began coverage on Beta Bionics in a report on Thursday, June 12th. They issued a "buy" rating and a $30.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.56.

Insiders Place Their Bets

In related news, CFO Stephen Feider sold 1,497 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $26,781.33. Following the completion of the transaction, the chief financial officer owned 45,503 shares of the company's stock, valued at approximately $814,048.67. This represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 4,519 shares of company stock valued at $80,845.

Hedge Funds Weigh In On Beta Bionics

A number of large investors have recently bought and sold shares of the business. Woodline Partners LP acquired a new position in Beta Bionics in the 1st quarter worth about $1,530,000. Goldman Sachs Group Inc. purchased a new stake in Beta Bionics during the 1st quarter worth approximately $715,000. Rhumbline Advisers purchased a new stake in Beta Bionics during the 1st quarter worth approximately $158,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Beta Bionics during the 1st quarter worth approximately $95,000. Finally, Strs Ohio purchased a new stake in Beta Bionics during the 1st quarter worth approximately $29,000.

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.