CeriBell (NASDAQ:CBLL) Trading Down 6.1% - Here's What Happened

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report) fell 6.1% during trading on Monday . The stock traded as low as $17.81 and last traded at $17.77. 88,003 shares traded hands during trading, a decline of 70% from the average session volume of 290,815 shares. The stock had previously closed at $18.93.

Analyst Upgrades and Downgrades

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

CeriBell Stock Performance

The company has a current ratio of 17.36, a quick ratio of 16.81 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $17.53 and a 200-day moving average of $19.77.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. The company had revenue of $20.49 million for the quarter, compared to analysts' expectations of $19.30 million. As a group, research analysts predict that CeriBell, Inc. will post -2.46 earnings per share for the current fiscal year.

Insider Activity at CeriBell

In other CeriBell news, CEO Xingjuan Chao sold 25,000 shares of the business's stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca B. Robertson sold 20,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was 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. This represents a 41.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,333 shares of company stock worth $2,337,695. 20.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of CeriBell by 26.5% in the first quarter. Rhumbline Advisers now owns 15,629 shares of the company's stock valued at $300,000 after buying an additional 3,276 shares during the period. Quantbot Technologies LP bought a new stake in shares of CeriBell in the first quarter valued at $175,000. Lord Abbett & CO. LLC raised its stake in shares of CeriBell by 7.9% in the first quarter. Lord Abbett & CO. LLC now owns 319,501 shares of the company's stock valued at $6,138,000 after buying an additional 23,451 shares during the period. Nuveen LLC bought a new stake in shares of CeriBell in the first quarter valued at $311,000. Finally, Swiss National Bank bought a new stake in shares of CeriBell in the first quarter valued at $467,000.

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.