CeriBell (NASDAQ:CBLL) Sets New 1-Year High – Here’s What Happened

CeriBell, Inc. (NASDAQ:CBLL)’s stock price reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $28.11 and last traded at $27.66, with a volume of 58,393 shares changing hands. The stock had previously closed at $27.68.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CBLL shares. Canaccord Genuity Group upped their target price on CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Raymond James Financial restated a “strong-buy” rating and issued a $29.00 price target on shares of CeriBell in a research note on Thursday, September 3rd. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of CeriBell in a research note on Friday, September 11th. TD Cowen boosted their price target on CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Barclays upgraded CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

CeriBell Price Performance

The stock has a market capitalization of $1.05 billion, a P/E ratio of -15.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.18 and a quick ratio of 8.79. The company’s 50-day simple moving average is $24.41 and its 200-day simple moving average is $20.81.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). The firm had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. As a group, sell-side analysts expect that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other CeriBell news, CTO Raymond Woo sold 4,887 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $24.38, for a total transaction of $119,145.06. Following the transaction, the chief technology officer owned 203,118 shares of the company’s stock, valued at $4,952,016.84. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Joseph S. Manni sold 1,361 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $32,691.22. Following the completion of the sale, the executive owned 55,956 shares in the company, valued at $1,344,063.12. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 174,905 shares of company stock worth $4,312,995 in the last three months. Insiders own 17.70% of the company’s stock.

Institutional Trading of CeriBell

Hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of CeriBell in the first quarter valued at about $27,000. Legal & General Group Plc acquired a new stake in shares of CeriBell during the 2nd quarter worth about $53,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CeriBell by 8,735.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company’s stock worth $60,000 after buying an additional 2,708 shares during the period. State of Wyoming bought a new stake in shares of CeriBell during the 1st quarter worth about $62,000. Finally, Quantbot Technologies LP bought a new stake in shares of CeriBell during the 2nd quarter worth about $112,000.

CeriBell Company Profile

CeriBell, Inc develops medical technology designed to make electroencephalography (EEG) more accessible in acute-care settings. Its primary product is the Ceribell Rapid Response EEG system, a portable, point-of-care platform that enables clinicians to record and assess brain activity at the bedside, including when evaluating patients for seizures and status epilepticus.

The Ceribell system combines a simplified EEG headband and recording device with software that supports rapid interpretation.