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

Shares of CeriBell (NASDAQ:CBLL) hit a new 52-week low during trading on Monday . The company traded as low as $13.00 and last traded at $17.88, with a volume of 589 shares. The stock had previously closed at $18.44.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CBLL. TD Cowen raised their target price on shares of CeriBell from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of CeriBell in a research report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH began coverage on CeriBell in a research note on Friday. They issued a “buy” rating and a $32.00 target price for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.50.

CeriBell Trading Down 0.9 %

The company has a 50 day moving average of $21.95.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). The firm had revenue of $18.53 million during the quarter, compared to analysts’ expectations of $17.55 million. As a group, equities analysts expect that CeriBell will post -2.46 EPS for the current fiscal year.

Institutional Trading of CeriBell

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers bought a new stake in CeriBell during the fourth quarter valued at about $320,000. PNC Financial Services Group Inc. purchased a new position in CeriBell in the 4th quarter worth approximately $47,000. Emerald Advisers LLC bought a new position in CeriBell in the 4th quarter worth approximately $3,126,000. Bank of New York Mellon Corp purchased a new stake in CeriBell during the 4th quarter valued at approximately $628,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in CeriBell during the fourth quarter valued at $2,500,000.

CeriBell Company Profile

We are a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care electroencephalography (“EEG”) platform specifically designed to address the unmet needs of patients in the acute care setting.