CeriBell (NASDAQ:CBLL) Sets New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

CBLL has been the topic of a number of research reports. BTIG Research reaffirmed a “buy” rating and set a $30.00 target price on shares of CeriBell in a research report on Friday, September 11th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $29.00 price target on shares of CeriBell in a research report on Thursday, September 3rd. Weiss Ratings downgraded CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Barclays upgraded CeriBell to a “neutral” rating in a report on Tuesday, August 18th. Finally, TD Cowen raised their price objective on CeriBell from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CeriBell has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

CeriBell Trading Up 4.0%

The firm has a 50 day simple moving average of $23.52 and a 200 day simple moving average of $20.46. The firm has a market cap of $1.01 billion, a P/E ratio of -14.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations 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 predict that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Scott Blumberg sold 33,512 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $25.03, for a total value of $838,805.36. Following the sale, the chief financial officer directly owned 148,121 shares of the company’s stock, valued at $3,707,468.63. This trade represents a 18.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Taylor sold 13,095 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $23.40, for a total transaction of $306,423.00. Following the completion of the transaction, the director directly owned 48,478 shares in the company, valued at $1,134,385.20. The trade was a 21.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 174,905 shares of company stock valued at $4,312,995 in the last 90 days. 17.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CeriBell

Several institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in shares of CeriBell during the first quarter valued at approximately $27,000. Legal & General Group Plc bought a new stake in shares of CeriBell in the second quarter worth about $53,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CeriBell by 8,735.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company’s stock valued at $60,000 after buying an additional 2,708 shares during the period. State of Wyoming purchased a new position in shares of CeriBell during the first quarter valued at approximately $62,000. Finally, Quantbot Technologies LP bought a new stake in CeriBell in the second quarter valued at $112,000.

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.