CeriBell (NASDAQ:CBLL – Get Free Report) had its price objective raised by stock analysts at Canaccord Genuity Group from $26.00 to $33.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price suggests a potential upside of 20.48% from the company’s previous close.
A number of other brokerages have also weighed in on CBLL. Barclays upgraded shares of CeriBell to a “neutral” rating in a report on Tuesday, August 18th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $29.00 target price on shares of CeriBell in a research report on Thursday, September 3rd. Weiss Ratings raised CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. BTIG Research reiterated a “buy” rating on shares of CeriBell in a report on Wednesday. Finally, TD Cowen boosted their price target on CeriBell from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.40.
Get Our Latest Research Report on CeriBell
CeriBell Trading Down 3.1%
Shares of CBLL stock traded down $0.88 during trading hours on Wednesday, hitting $27.39. 1,271,933 shares of the company were exchanged, compared to its average volume of 370,645. The firm has a fifty day moving average of $25.06 and a 200 day moving average of $20.85. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. CeriBell has a 1 year low of $10.94 and a 1 year high of $28.89. The firm has a market cap of $1.05 billion, a PE ratio of -15.56 and a beta of 0.86.
CeriBell (NASDAQ:CBLL – Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. The company had revenue of $29.34 million during the quarter, compared to analysts’ expectations of $29.18 million. Analysts expect that CeriBell will post -1.96 earnings per share for the current year.
Insider Activity at CeriBell
In related news, CRO Joseph S. Manni sold 1,361 shares of CeriBell stock in a transaction on Friday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $32,691.22. Following the transaction, the executive owned 55,956 shares in the company, valued at approximately $1,344,063.12. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Xingjuan Chao sold 20,846 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $25.03, for a total value of $521,775.38. Following the completion of the sale, the chief executive officer owned 746,345 shares of the company’s stock, valued at approximately $18,681,015.35. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 179,792 shares of company stock valued at $4,444,748 over the last quarter. Company insiders own 17.70% of the company’s stock.
Institutional Investors Weigh In On CeriBell
Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its stake in shares of CeriBell by 2.3% in the first quarter. Sei Investments Co. now owns 50,360 shares of the company’s stock valued at $923,000 after buying an additional 1,125 shares in the last quarter. Strs Ohio purchased a new position in CeriBell in the 1st quarter worth approximately $27,000. Legal & General Group Plc purchased a new position in CeriBell in the 2nd quarter worth approximately $53,000. State of Wyoming acquired a new stake in CeriBell in the first quarter valued at approximately $62,000. Finally, Quantinno Capital Management LP grew its position in CeriBell by 3.0% in the first quarter. Quantinno Capital Management LP now owns 140,347 shares of the company’s stock valued at $2,573,000 after acquiring an additional 4,119 shares in the last quarter.
CeriBell News Roundup
Here are the key news stories impacting CeriBell this week:
- Positive Sentiment: Revenue was $29.34 million, narrowly ahead of analysts’ $29.18 million estimate. Zacks also reported an adjusted loss of $0.48 per share, better than its $0.50-per-share loss consensus. Zacks Q3 results
- Negative Sentiment: Other reports cited a quarterly loss of $0.55 per share, wider than the $0.51 consensus, and a net loss of about $21 million. New product-launch expenses contributed to the larger loss, weighing on investor sentiment. RTTNews report
- Negative Sentiment: CTO Raymond Woo sold 4,887 shares for approximately $131,754. The sale reduced his holdings by 2.35%; insider sales can add to near-term caution, although he retained more than 203,000 shares. SEC insider transaction filing
CeriBell Company Profile
CeriBell, Inc is a medical technology company that develops artificial intelligence-enabled neurological diagnostic products. Its technology is designed to help healthcare professionals rapidly identify and monitor seizures, including nonconvulsive seizures that may be difficult to recognize through a standard clinical examination.
The company’s primary product is the Ceribell Rapid Response EEG system, a portable electroencephalography platform that combines a wireless EEG recorder, a simplified disposable headband, and software-based analysis tools.
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