CeriBell (NASDAQ:CBLL) Sees Strong Trading Volume – What’s Next?

Shares of CeriBell, Inc. (NASDAQ:CBLLGet Free Report) saw an uptick in trading volume on Thursday . 429,632 shares changed hands during mid-day trading, an increase of 31% from the previous session’s volume of 326,995 shares.The stock last traded at $19.9860 and had previously closed at $20.00.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CBLL shares. Weiss Ratings upgraded shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Canaccord Genuity Group lowered their target price on CeriBell from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Check Out Our Latest Report on CeriBell

CeriBell Price Performance

The company has a market cap of $748.43 million, a PE ratio of -12.12 and a beta of 0.84. The company has a quick ratio of 10.01, a current ratio of 10.44 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $19.73.

CeriBell (NASDAQ:CBLLGet Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.13). CeriBell had a negative net margin of 63.51% and a negative return on equity of 38.19%. The firm had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.09 million. As a group, research analysts predict that CeriBell, Inc. will post -1.69 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Tpg Gp A, Llc sold 202,368 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $20.12, for a total transaction of $4,071,644.16. Following the completion of the sale, the insider owned 3,765,054 shares of the company’s stock, valued at $75,752,886.48. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Xingjuan Chao sold 39,000 shares of CeriBell stock in a transaction on Monday, June 8th. The stock was sold at an average price of $18.33, for a total transaction of $714,870.00. Following the completion of the transaction, the chief executive officer directly owned 816,317 shares in the company, valued at $14,963,090.61. This represents a 4.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 348,582 shares of company stock worth $6,843,905. 20.10% of the stock is currently owned by insiders.

Institutional Trading of CeriBell

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in CeriBell by 6,424.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 380,003 shares of the company’s stock valued at $7,117,000 after buying an additional 374,179 shares in the last quarter. Rhumbline Advisers boosted its holdings in CeriBell by 109.9% in the second quarter. Rhumbline Advisers now owns 32,806 shares of the company’s stock worth $614,000 after acquiring an additional 17,177 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of CeriBell by 148.6% during the second quarter. New York State Common Retirement Fund now owns 8,700 shares of the company’s stock worth $163,000 after acquiring an additional 5,200 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of CeriBell by 70.3% during the second quarter. Quantbot Technologies LP now owns 15,504 shares of the company’s stock valued at $290,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of CeriBell in the 2nd quarter valued at approximately $197,000.

About CeriBell

(Get Free Report)

CeriBell Corp (NASDAQ: CBLL) is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell’s solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company’s product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.

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