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

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

Wall Street Analyst Weigh In

CBLL has been the subject of a number of research reports. LADENBURG THALM/SH SH started coverage on CeriBell in a research note on Friday, April 4th. They issued a "buy" rating and a $32.00 price objective 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 target price on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $32.14.

CeriBell Stock Down 8.6%

The company's fifty day moving average is $17.47 and its 200-day moving average is $19.95. The company has a quick ratio of 16.81, a current ratio of 17.36 and a debt-to-equity ratio of 0.11.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Analysts forecast that CeriBell, Inc. will post -2.46 EPS for the current year.

Insiders Place Their Bets

In related news, Director Rebecca B. Robertson sold 11,188 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $17.85, for a total value of $199,705.80. Following the completion of the sale, the director directly owned 10,042 shares in the company, valued at $179,249.70. This trade represents a 52.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Xingjuan Chao sold 25,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $17.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer directly owned 776,022 shares of the company's stock, valued at approximately $13,192,374. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,333 shares of company stock valued at $1,895,195. 20.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CeriBell

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC acquired a new position in shares of CeriBell in the 4th quarter valued at $128,120,000. TPG GP A LLC acquired a new stake in shares of CeriBell in the fourth quarter worth $102,677,000. Red Tree Management LLC acquired a new stake in CeriBell during the fourth quarter valued at $57,083,000. Yu Fan purchased a new position in CeriBell during the fourth quarter worth approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd purchased a new position in shares of CeriBell during the 4th quarter valued at 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.

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