CeriBell (NASDAQ:CBLL) Trading Down 6.1% - Time to Sell?

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report)'s share price was down 6.1% during mid-day trading on Monday . The company traded as low as $17.81 and last traded at $17.77. Approximately 88,003 shares changed hands during trading, a decline of 70% from the average daily volume of 290,815 shares. The stock had previously closed at $18.93.

Analysts Set New Price Targets

Several equities analysts have commented on CBLL shares. LADENBURG THALM/SH SH started coverage on shares of CeriBell in a research note on Friday, April 4th. They issued a "buy" rating and a $32.00 price target for the company. BTIG Research began coverage on CeriBell in a report on Tuesday, June 24th. They issued a "buy" rating and a $30.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CeriBell has a consensus rating of "Buy" and a consensus price target of $32.14.

CeriBell Trading Down 1.0%

The firm has a 50-day moving average price of $17.49 and a two-hundred day moving average price of $19.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 16.81 and a current ratio of 17.36.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. The business had revenue of $20.49 million during the quarter, compared to analyst estimates of $19.30 million. Equities analysts forecast that CeriBell, Inc. will post -2.46 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Xingjuan Chao sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $17.00, for a total value of $425,000.00. Following the transaction, the chief executive officer owned 776,022 shares of the company's stock, valued at approximately $13,192,374. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rebecca B. Robertson sold 20,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $17.14, for a total value of $342,800.00. Following the completion of the transaction, the director directly owned 28,675 shares in the company, valued at approximately $491,489.50. The trade was a 41.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,333 shares of company stock worth $1,895,195. 20.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CeriBell

Several institutional investors have recently bought and sold shares of CBLL. FMR LLC acquired a new position in CeriBell in the 4th quarter valued at $128,120,000. TPG GP A LLC acquired a new position in shares of CeriBell during the fourth quarter worth about $102,677,000. Red Tree Management LLC acquired a new position in shares of CeriBell during the fourth quarter worth about $57,083,000. Yu Fan acquired a new position in CeriBell during the 4th quarter worth approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd acquired a new position in CeriBell during the 4th quarter worth approximately $28,160,000.

About CeriBell

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.