CeriBell (NASDAQ:CBLL) Shares Gap Down – Time to Sell?

CeriBell (NASDAQ:CBLL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $14.88, but opened at $14.53. CeriBell shares last traded at $14.94, with a volume of 17,420 shares changing hands.

Analyst Upgrades and Downgrades

CBLL has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH assumed coverage on CeriBell in a report on Friday, April 4th. They set a “buy” rating and a $32.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of CeriBell in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.50.

CeriBell Price Performance

The business has a fifty day simple moving average of $20.88.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.40) earnings per share (EPS) 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 analyst estimates of $17.55 million. Equities analysts anticipate that CeriBell will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On CeriBell

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBLL. Legal & General Group Plc purchased a new position in shares of CeriBell in the 4th quarter worth $32,000. Summit Investment Advisors Inc. bought a new position in CeriBell in the fourth quarter valued at about $33,000. Tower Research Capital LLC TRC purchased a new position in CeriBell in the fourth quarter worth about $37,000. BNP Paribas Financial Markets bought a new stake in shares of CeriBell during the 4th quarter valued at about $43,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of CeriBell during the 4th quarter valued at 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.