CeriBell (NASDAQ:CBLL) Hits New 1-Year Low – What’s Next?

CeriBell (NASDAQ:CBLL)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.50 and last traded at $18.75, with a volume of 12642 shares. The stock had previously closed at $19.21.

Analyst Upgrades and Downgrades

CBLL has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $33.00 price objective on shares of CeriBell in a report on Wednesday, February 26th. TD Cowen upped their price target on CeriBell from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.60.

CeriBell Stock Down 2.4 %

The stock’s 50-day moving average is $22.29.

CeriBell (NASDAQ:CBLL) last released its earnings results 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 for the quarter, compared to analyst estimates of $17.55 million. As a group, equities research analysts anticipate that CeriBell will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On CeriBell

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers bought a new stake in CeriBell in the fourth quarter valued at approximately $320,000. Bank of New York Mellon Corp bought a new stake in CeriBell in the 4th quarter valued at $628,000. Charles Schwab Investment Management Inc. acquired a new stake in CeriBell during the 4th quarter valued at $2,500,000. PNC Financial Services Group Inc. bought a new position in CeriBell during the fourth quarter worth $47,000. Finally, Vanguard Group Inc. acquired a new position in shares of CeriBell in the fourth quarter valued at $18,015,000.

About CeriBell

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.