CeriBell (NASDAQ:CBLL) Shares Gap Up – Here’s What Happened

CeriBell (NASDAQ:CBLL) gapped up before the market opened on Monday . The stock had previously closed at $21.03, but opened at $22.09. CeriBell shares last traded at $21.27, with a volume of 7,158 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBLL. TD Cowen increased their target price on CeriBell from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group restated a “buy” rating and issued a $33.00 price target on shares of CeriBell in a research report on Wednesday, February 26th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, CeriBell currently has an average rating of “Buy” and an average target price of $32.60.

CeriBell Price Performance

The stock has a 50 day simple moving average of $22.46.

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

Institutional Trading of CeriBell

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of CeriBell in the fourth quarter valued at about $32,000. Summit Investment Advisors Inc. bought a new position in CeriBell in the fourth quarter worth about $33,000. Tower Research Capital LLC TRC bought a new position in CeriBell in the fourth quarter worth about $37,000. BNP Paribas Financial Markets bought a new position in CeriBell in the fourth quarter worth about $43,000. Finally, PNC Financial Services Group Inc. bought a new position in CeriBell in the fourth quarter worth about $47,000.

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.