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

CeriBell logo with Medical background

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.

View Our Latest Research Report on CeriBell

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

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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