Beta Bionics (NASDAQ:BBNX) Posts Earnings Results, Beats Estimates By $0.09 EPS

Beta Bionics (NASDAQ:BBNX) released its earnings results on Wednesday. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.09, FiscalAI reports. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. The firm had revenue of $32.01 million during the quarter.

Beta Bionics Stock Down 4.0%

Shares of Beta Bionics stock traded down $0.63 during trading on Wednesday, reaching $15.17. 1,646,705 shares of the stock were exchanged, compared to its average volume of 1,120,966. The stock’s fifty day moving average is $14.79 and its 200 day moving average is $13.38. The firm has a market cap of $675.98 million, a price-to-earnings ratio of -10.05 and a beta of 3.04. Beta Bionics has a 1 year low of $8.80 and a 1 year high of $32.71.

Insiders Place Their Bets

In other Beta Bionics news, insider Steven Jon Russell sold 4,222 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $12.61, for a total transaction of $53,239.42. Following the transaction, the insider directly owned 173,849 shares of the company’s stock, valued at approximately $2,192,235.89. The trade was a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Stephen Feider sold 4,896 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $17.03, for a total transaction of $83,378.88. Following the completion of the transaction, the chief financial officer owned 165,931 shares of the company’s stock, valued at $2,825,804.93. This trade represents a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,351 shares of company stock valued at $553,961 over the last quarter. 5.30% of the stock is owned by company insiders.

Institutional Trading of Beta Bionics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Beta Bionics by 213.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock worth $44,036,000 after acquiring an additional 1,509,217 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Beta Bionics in the 4th quarter valued at approximately $40,437,000. Eversept Partners LP lifted its stake in shares of Beta Bionics by 108.6% in the 1st quarter. Eversept Partners LP now owns 1,414,838 shares of the company’s stock valued at $14,177,000 after purchasing an additional 736,576 shares during the period. 12 West Capital Management LP bought a new stake in shares of Beta Bionics during the fourth quarter valued at approximately $17,520,000. Finally, Bruce & Co. Inc. bought a new stake in shares of Beta Bionics during the first quarter valued at approximately $5,518,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBNX. The Goldman Sachs Group lifted their price objective on Beta Bionics from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. UBS Group assumed coverage on Beta Bionics in a report on Tuesday. They set a “buy” rating and a $22.00 target price for the company. Bank of America decreased their price target on shares of Beta Bionics from $23.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Leerink Partners dropped their target price on shares of Beta Bionics from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Beta Bionics in a report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Beta Bionics presently has an average rating of “Moderate Buy” and an average price target of $20.10.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.