CeriBell (NASDAQ:CBLL) Reaches New 52-Week High – What’s Next?

Shares of CeriBell, Inc. (NASDAQ:CBLL) reached a new 52-week high on Wednesday . The stock traded as high as $25.63 and last traded at $24.94, with a volume of 54272 shares changing hands. The stock had previously closed at $25.04.

Wall Street Analyst Weigh In

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

CeriBell Stock Up 0.1%

The company has a market cap of $961.80 million, a P/E ratio of -14.31 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. The firm has a fifty day moving average price of $21.30 and a 200 day moving average price of $19.71.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share (EPS) 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 company had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.28 million. Equities research analysts forecast that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Joseph S. Manni sold 1,361 shares of the firm’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 $32,691.22. Following the transaction, the executive 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Raymond Woo sold 4,887 shares of CeriBell 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 sale, the chief technology officer owned 203,118 shares of the company’s stock, valued at approximately $4,941,860.94. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 391,901 shares of company stock valued at $8,542,455 over the last quarter. Company insiders own 17.70% of the company’s stock.

Institutional Trading of CeriBell

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of CeriBell in the 2nd quarter valued at $37,657,000. KCM Capital Inc grew its stake in shares of CeriBell by 40.0% during the first quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock worth $25,662,000 after purchasing an additional 400,000 shares during the period. Bank of New York Mellon Corp bought a new stake in CeriBell in the second quarter valued at about $17,437,000. TimesSquare Capital Management LLC acquired a new position in CeriBell in the second quarter valued at about $15,182,000. Finally, Royce & Associates LP bought a new position in CeriBell during the fourth quarter worth about $11,695,000.

About CeriBell

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.