CeriBell (NASDAQ:CBLL) Price Target Raised to $33.00

CeriBell (NASDAQ:CBLL) had its target price hoisted by Canaccord Genuity Group from $26.00 to $33.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on CBLL. TD Cowen increased their price target on shares of CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. BTIG Research reissued a “buy” rating on shares of CeriBell in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating and issued a $29.00 price objective on shares of CeriBell in a report on Thursday, September 3rd. Weiss Ratings raised shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Finally, Barclays raised shares of CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

CeriBell Stock Up 2.2%

Shares of CBLL traded up $0.58 on Wednesday, reaching $26.59. The stock had a trading volume of 436,388 shares, compared to its average volume of 562,058. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -13.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18. The company has a 50-day simple moving average of $25.25 and a 200-day simple moving average of $20.92. CeriBell has a 12-month low of $11.27 and a 12-month high of $28.89.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.04). The firm had revenue of $29.34 million during the quarter, compared to analysts’ expectations of $29.18 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. Sell-side analysts predict that CeriBell will post -2.03 EPS for the current year.

Insider Activity at CeriBell

In related news, CFO Scott Blumberg sold 1,521 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $24.02, for a total value of $36,534.42. Following the transaction, the chief financial officer directly owned 146,600 shares of the company’s stock, valued at approximately $3,521,332. This represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Joseph Manni sold 1,361 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $32,691.22. Following the sale, the executive owned 55,956 shares in the company, valued at approximately $1,344,063.12. This represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,792 shares of company stock valued at $4,444,748 over the last ninety days. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On CeriBell

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of CeriBell during the 2nd quarter valued at about $37,657,000. KCM Capital Inc lifted its position in CeriBell by 40.0% during the first quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock valued at $25,662,000 after purchasing an additional 400,000 shares during the period. Bank of New York Mellon Corp bought a new position in CeriBell during the second quarter valued at approximately $17,437,000. TimesSquare Capital Management LLC purchased a new stake in CeriBell in the second quarter worth approximately $15,182,000. Finally, Bank of America Corp DE grew its position in CeriBell by 15.3% in the 1st quarter. Bank of America Corp DE now owns 319,837 shares of the company’s stock worth $5,863,000 after purchasing an additional 42,340 shares during the period.

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.