CeriBell (NASDAQ:CBLL) Hits New 12-Month High – Still a Buy?

Shares of CeriBell, Inc. (NASDAQ:CBLL) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $28.11 and last traded at $27.66, with a volume of 58,393 shares traded. The stock had previously closed at $27.68.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted 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. TD Cowen increased their target price on CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $29.00 price target on shares of CeriBell in a report on Thursday, September 3rd. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of CeriBell in a research note on Friday, September 11th. Finally, Weiss Ratings upgraded CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

CeriBell Price Performance

The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $24.41 and its 200 day moving average is $20.81. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -15.67 and a beta of 0.94.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $27.28 million. On average, equities research analysts anticipate that CeriBell, Inc. will post -1.96 earnings per share for the current fiscal year.

Insider Activity

In other CeriBell news, Director Joseph Taylor sold 13,095 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $23.40, for a total transaction of $306,423.00. Following the transaction, the director owned 48,478 shares in the company, valued at $1,134,385.20. This represents a 21.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Raymond Woo sold 4,887 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $24.33, for a total transaction of $118,900.71. Following the transaction, the chief technology officer directly owned 203,118 shares in the company, valued at $4,941,860.94. This represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 174,905 shares of company stock worth $4,312,995. Insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On CeriBell

A number of large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in CeriBell by 2.3% during the 1st quarter. Sei Investments Co. now owns 50,360 shares of the company’s stock worth $923,000 after acquiring an additional 1,125 shares during the period. Strs Ohio acquired a new position in CeriBell in the 1st quarter valued at $27,000. Caitong International Asset Management Co. Ltd raised 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 valued at $60,000 after acquiring an additional 2,708 shares in the last quarter. Legal & General Group Plc acquired a new position in CeriBell in the 2nd quarter valued at $53,000. Finally, State of Wyoming bought a new stake in shares of CeriBell during the 1st quarter valued at $62,000.

CeriBell Company Profile

CeriBell, Inc develops medical technology designed to make electroencephalography (EEG) more accessible in acute-care settings. Its primary product is the Ceribell Rapid Response EEG system, a portable, point-of-care platform that enables clinicians to record and assess brain activity at the bedside, including when evaluating patients for seizures and status epilepticus.

The Ceribell system combines a simplified EEG headband and recording device with software that supports rapid interpretation.