CeriBell (NASDAQ:CBLL) Shares Gap Up – What’s Next?

CeriBell, Inc. (NASDAQ:CBLL) gapped up prior to trading on Tuesday . The stock had previously closed at $23.63, but opened at $24.42. CeriBell shares last traded at $23.9550, with a volume of 5,977 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $29.00 target price on shares of CeriBell in a report on Thursday, September 3rd. BTIG Research reissued a “buy” rating and set a $30.00 price target on shares of CeriBell in a research report on Friday, September 11th. Weiss Ratings upgraded CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Barclays upgraded CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Canaccord Genuity Group increased their target price on CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CeriBell currently has a consensus rating of “Moderate Buy” and an average price target of $24.40.

CeriBell Price Performance

The business’s 50 day moving average is $21.40 and its 200-day moving average is $19.74. The firm has a market capitalization of $940.31 million, a P/E ratio of -13.92 and a beta of 0.95. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16.

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). CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%.The business had revenue of $28.10 million for the quarter, compared to the consensus estimate of $27.28 million. As a group, sell-side analysts predict that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Insider Transactions at CeriBell

In other news, major shareholder Tpg Gp A, Llc sold 202,368 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $20.12, for a total value of $4,071,644.16. Following the sale, the insider directly owned 3,765,054 shares in the company, valued at approximately $75,752,886.48. This trade represents a 5.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foehr sold 9,255 shares of CeriBell stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total transaction of $224,433.75. Following the sale, the vice president directly owned 34,144 shares in the company, valued at $827,992. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 391,901 shares of company stock valued at $8,542,455. Company insiders own 17.70% of the company’s stock.

Institutional Trading of CeriBell

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of CeriBell in the 1st quarter valued at $27,000. Legal & General Group Plc bought a new stake in CeriBell during the 2nd quarter worth $53,000. Caitong International Asset Management Co. Ltd increased its holdings in CeriBell by 8,735.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company’s stock worth $60,000 after purchasing an additional 2,708 shares in the last quarter. Larson Financial Group LLC raised its position in CeriBell by 1,403.1% in the fourth quarter. Larson Financial Group LLC now owns 2,871 shares of the company’s stock valued at $63,000 after purchasing an additional 2,680 shares during the last quarter. Finally, State of Wyoming bought a new position in CeriBell in the first quarter valued at about $62,000.

CeriBell Company Profile

Ceribell, Inc (NASDAQ: CBLL) is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company’s primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.