Formula Growth Ltd. Invests $603,000 in CeriBell, Inc. $CBLL

Formula Growth Ltd. acquired a new stake in shares of CeriBell, Inc. (NASDAQ:CBLL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 31,000 shares of the company’s stock, valued at approximately $603,000. Formula Growth Ltd. owned approximately 0.08% of CeriBell at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CBLL. Bank of America Corp DE purchased a new stake in CeriBell in the second quarter worth approximately $4,619,000. PDT Partners LLC purchased a new position in shares of CeriBell during the second quarter worth approximately $1,026,000. Legal & General Group Plc purchased a new position in shares of CeriBell during the second quarter worth approximately $53,000. Quantbot Technologies LP bought a new stake in shares of CeriBell in the 2nd quarter worth approximately $112,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of CeriBell in the 2nd quarter valued at $2,078,000.

Insiders Place Their Bets

In other CeriBell news, CTO Raymond Woo sold 1,979 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $47,535.58. Following the transaction, the chief technology officer owned 194,729 shares in the company, valued at approximately $4,677,390.58. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Joseph S. Manni sold 1,361 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $32,691.22. Following the transaction, the executive directly owned 55,956 shares of the company’s stock, valued at approximately $1,344,063.12. This trade 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. Over the last 90 days, insiders have sold 382,067 shares of company stock worth $8,025,866. 17.70% of the stock is currently owned by insiders.

CeriBell Stock Performance

NASDAQ:CBLL opened at $23.37 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18. CeriBell, Inc. has a fifty-two week low of $10.85 and a fifty-two week high of $25.33. The firm has a market cap of $896.94 million, a PE ratio of -13.28 and a beta of 0.81. The business has a 50 day moving average price of $20.00 and a 200-day moving average price of $19.32.

CeriBell (NASDAQ:CBLL) last issued its earnings results on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $27.28 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. Equities research analysts predict that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings upgraded shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Barclays upgraded shares of CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. BTIG Research raised their price objective on CeriBell from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, Canaccord Genuity Group lifted their price objective on CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

CeriBell Profile

CeriBell Corp (NASDAQ: CBLL) is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell’s solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company’s product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.