CeriBell (NASDAQ:CBLL) Sets New 1-Year High – Time to Buy?

CeriBell, Inc. (NASDAQ:CBLLGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.63 and last traded at $24.94, with a volume of 54272 shares changing hands. The stock had previously closed at $25.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $29.00 price target on shares of CeriBell in a report on Thursday, September 3rd. Barclays raised CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of CeriBell in a report on Friday, September 11th. Finally, Weiss Ratings raised CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.40.

Get Our Latest Report on CBLL

CeriBell Price Performance

The company’s fifty day moving average price is $21.30 and its two-hundred day moving average price is $19.71. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The company has a market cap of $961.80 million, a price-to-earnings ratio of -14.31 and a beta of 0.95.

CeriBell (NASDAQ:CBLLGet Free Report) last issued 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 company had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.28 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. On average, equities research analysts forecast that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Xingjuan Chao sold 39,540 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $24.61, for a total transaction of $973,079.40. Following the completion of the transaction, the chief executive officer directly owned 767,191 shares of the company’s stock, valued at $18,880,570.51. This trade represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott Blumberg sold 1,521 shares of CeriBell stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $36,534.42. Following the completion of the sale, the chief financial officer owned 146,600 shares in the company, valued at $3,521,332. This trade represents a 1.03% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 391,901 shares of company stock valued at $8,542,455. Corporate insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On CeriBell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBLL. BlackRock Inc. bought a new stake in CeriBell during the 2nd quarter worth about $37,657,000. KCM Capital Inc grew its holdings in shares of CeriBell by 40.0% in the 1st quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock valued at $25,662,000 after acquiring an additional 400,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CeriBell in the second quarter valued at about $17,437,000. TimesSquare Capital Management LLC bought a new stake in CeriBell during the second quarter worth about $15,182,000. Finally, Royce & Associates LP bought a new stake in CeriBell during the fourth quarter worth about $11,695,000.

About CeriBell

(Get Free Report)

Ceribell, Inc (NASDAQ: CBLL) is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company’s primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.

Further Reading

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