Beta Bionics (NASDAQ:BBNX) Posts Earnings Results

Beta Bionics (NASDAQ:BBNX) released its quarterly earnings results on Tuesday. The company reported ($0.49) earnings per share for the quarter, FiscalAI reports. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%. The firm had revenue of $27.63 million for the quarter.

Beta Bionics Stock Performance

BBNX stock traded down $0.65 during mid-day trading on Tuesday, hitting $12.26. The company had a trading volume of 837,960 shares, compared to its average volume of 1,273,701. The firm has a market cap of $546.13 million, a PE ratio of -6.29 and a beta of 5.06. Beta Bionics has a 12 month low of $8.80 and a 12 month high of $32.71. The stock’s fifty day moving average price is $11.64 and its two-hundred day moving average price is $20.05.

Institutional Trading of Beta Bionics

Several hedge funds have recently added to or reduced their stakes in BBNX. Vanguard Group Inc. raised its position in Beta Bionics by 213.5% in the third 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 bought a new stake in Beta Bionics in the fourth quarter worth about $40,437,000. Eversept Partners LP bought a new stake in Beta Bionics in the fourth quarter worth about $20,667,000. 12 West Capital Management LP bought a new stake in Beta Bionics in the fourth quarter worth about $17,520,000. Finally, Soleus Capital Management L.P. raised its position in Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock worth $55,622,000 after acquiring an additional 424,817 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on BBNX shares. Wall Street Zen lowered shares of Beta Bionics from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. The Goldman Sachs Group dropped their price target on shares of Beta Bionics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Bank of America lowered shares of Beta Bionics from a “buy” rating to a “neutral” rating in a research report on Friday, January 9th. Truist Financial dropped their price target on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, UBS Group raised shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Beta Bionics currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

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.