CeriBell (NASDAQ:CBLL) Hits New 12-Month High – Here’s What Happened

CeriBell, Inc. (NASDAQ:CBLL) shares reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $25.80 and last traded at $25.8230, with a volume of 77,002 shares traded. The stock had previously closed at $25.26.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CBLL shares. Barclays upgraded CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group upped their price objective on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $29.00 price objective on shares of CeriBell in a research note on Thursday, September 3rd. Finally, TD Cowen raised their target price on shares of CeriBell from $29.00 to $33.00 and gave the company a “buy” rating in a report on Friday, October 2nd. 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. Based on data from MarketBeat, CeriBell has an average rating of “Moderate Buy” and a consensus price target of $27.00.

CeriBell Price Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -14.98 and a beta of 0.94. 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 business’s 50 day moving average is $23.84 and its 200-day moving average is $20.57.

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

Insider Activity at CeriBell

In related news, CEO Xingjuan Chao sold 39,540 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $24.61, for a total value of $973,079.40. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott Blumberg sold 33,512 shares of CeriBell stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $25.03, for a total value of $838,805.36. Following the completion of the transaction, the chief financial officer owned 148,121 shares in the company, valued at approximately $3,707,468.63. This represents a 18.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in CeriBell in the second quarter valued at approximately $37,657,000. KCM Capital Inc grew its stake in shares of CeriBell by 40.0% during the first quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock worth $25,662,000 after buying an additional 400,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of CeriBell during the second quarter worth $17,437,000. TimesSquare Capital Management LLC acquired a new position in shares of CeriBell during the second quarter worth $15,182,000. Finally, Bank of America Corp DE increased its holdings in shares of CeriBell by 15.3% during the first quarter. Bank of America Corp DE now owns 319,837 shares of the company’s stock worth $5,863,000 after buying an additional 42,340 shares in the last quarter.

About CeriBell

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.