CeriBell (NASDAQ:CBLL) Shares Down 14.8% – Here’s What Happened

Shares of CeriBell (NASDAQ:CBLL) traded down 14.8% on Thursday . The company traded as low as $16.28 and last traded at $16.38. 149,954 shares changed hands during trading, a decline of 37% from the average session volume of 238,094 shares. The stock had previously closed at $19.23.

Analyst Ratings Changes

Several brokerages have recently issued reports on CBLL. Canaccord Genuity Group reaffirmed a “buy” rating and set a $33.00 price target on shares of CeriBell in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH assumed coverage on shares of CeriBell in a research report on Friday, April 4th. They set a “buy” rating and a $32.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CeriBell has a consensus rating of “Buy” and a consensus target price of $32.50.

CeriBell Stock Performance

The company’s fifty day simple moving average is $21.04.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.40) 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 the consensus estimate of $17.55 million. On average, equities research analysts anticipate that CeriBell will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On CeriBell

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in shares of CeriBell in the 4th quarter valued at about $128,120,000. TPG GP A LLC acquired a new stake in CeriBell in the 4th quarter valued at approximately $102,677,000. Red Tree Management LLC bought a new stake in CeriBell in the 4th quarter valued at approximately $57,083,000. Yu Fan acquired a new position in CeriBell during the 4th quarter worth approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd bought a new position in shares of CeriBell during the 4th quarter worth approximately $28,160,000.

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.