Adage Capital Partners GP L.L.C. Purchases New Holdings in CeriBell (NASDAQ:CBLL)

Adage Capital Partners GP L.L.C. purchased a new stake in shares of CeriBell (NASDAQ:CBLL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 318,072 shares of the company's stock, valued at approximately $8,232,000. Adage Capital Partners GP L.L.C. owned 0.89% of CeriBell at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Rhumbline Advisers acquired a new stake in CeriBell during the 4th quarter worth about $320,000. Bank of New York Mellon Corp acquired a new stake in shares of CeriBell during the fourth quarter worth approximately $628,000. Charles Schwab Investment Management Inc. purchased a new position in CeriBell during the fourth quarter valued at approximately $2,500,000. PNC Financial Services Group Inc. acquired a new position in CeriBell in the 4th quarter valued at approximately $47,000. Finally, Vanguard Group Inc. purchased a new stake in CeriBell in the 4th quarter worth approximately $18,015,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CBLL. LADENBURG THALM/SH SH assumed coverage on shares of CeriBell in a research note on Friday, April 4th. They issued a "buy" rating and a $32.00 price target on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $33.00 target price on shares of CeriBell in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $32.50.

CeriBell Price Performance

Shares of NASDAQ:CBLL traded up $0.04 on Friday, reaching $16.32. The company had a trading volume of 208,040 shares, compared to its average volume of 270,817. The company has a 50-day moving average of $18.85. CeriBell has a twelve month low of $10.01 and a twelve month high of $32.75.

CeriBell (NASDAQ:CBLL - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $17.55 million. As a group, research analysts expect that CeriBell will post -2.46 EPS for the current fiscal year.

Insider Activity at CeriBell

In other CeriBell news, CEO Xingjuan Chao sold 15,628 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $236,139.08. Following the sale, the chief executive officer now owns 727,151 shares of the company's stock, valued at $10,987,251.61. This trade represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 24,700 shares of company stock worth $372,434.

CeriBell 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.