CeriBell, Inc. (NASDAQ:CBLL) Sees Significant Decrease in Short Interest

Key Points

• Short interest in CeriBell fell 18.6% in April to 1,530,162 shares (about 5.1% of shares sold short), with a short-interest ratio of 6.1 days.
• Insiders sold stock: CTO Raymond Woo sold 11,112 shares at about $18.56 and VP David Foehr sold 5,556 shares, with insiders disposing of 130,571 shares (~$2.41M) in the past quarter while still owning 20.10% of the company.
• Institutional buying picked up, led by JPMorgan increasing its stake to 380,003 shares (a 6,424.8% rise), with multiple other funds boosting or initiating positions in CeriBell.

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totaling 1,530,162 shares, a decline of 18.6% from the March 31st total of 1,880,159 shares. Based on an average trading volume of 249,548 shares, the short-interest ratio is currently 6.1 days. Approximately 5.1% of the company's stock are sold short.

Insider Activity at CeriBell

In other news, CTO Raymond Woo sold 11,112 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $18.56, for a total transaction of $206,238.72. Following the transaction, the chief technology officer directly owned 166,912 shares in the company, valued at $3,097,886.72. The trade was a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP David Foehr sold 5,556 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $20.00, for a total value of $111,120.00. Following the completion of the sale, the vice president directly owned 18,900 shares of the company's stock, valued at approximately $378,000. The trade was a 22.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 130,571 shares of company stock valued at $2,411,026. Insiders own 20.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of CeriBell by 6,424.8% in the second quarter. JPMorgan Chase & Co. now owns 380,003 shares of the company's stock valued at $7,117,000 after buying an additional 374,179 shares during the last quarter. Rhumbline Advisers increased its stake in CeriBell by 109.9% during the 2nd quarter. Rhumbline Advisers now owns 32,806 shares of the company's stock worth $614,000 after purchasing an additional 17,177 shares in the last quarter. New York State Common Retirement Fund increased its stake in CeriBell by 148.6% during the 2nd quarter. New York State Common Retirement Fund now owns 8,700 shares of the company's stock worth $163,000 after purchasing an additional 5,200 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of CeriBell by 70.3% during the 2nd quarter. Quantbot Technologies LP now owns 15,504 shares of the company's stock worth $290,000 after acquiring an additional 6,401 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of CeriBell during the 2nd quarter worth approximately $197,000.

CeriBell Stock Performance

Shares of NASDAQ CBLL traded up $0.81 during mid-day trading on Thursday, hitting $20.06. The company had a trading volume of 126,233 shares, compared to its average volume of 310,227. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.73 and a quick ratio of 9.35. The business's 50-day simple moving average is $19.16 and its 200-day simple moving average is $18.45. CeriBell has a 12 month low of $10.85 and a 12 month high of $24.33. The firm has a market cap of $759.71 million, a P/E ratio of -13.60 and a beta of 0.94.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.07. The firm had revenue of $24.78 million during the quarter, compared to analysts' expectations of $23.95 million. CeriBell had a negative net margin of 59.97% and a negative return on equity of 31.77%. As a group, analysts predict that CeriBell will post -1.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CBLL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CeriBell in a research report on Monday, April 6th. BTIG Research restated a "buy" rating and set a $30.00 price target on shares of CeriBell in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.20.

About CeriBell

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.