CeriBell (NASDAQ:CBLL) Stock Price Up 4.5% - Here's What Happened

CeriBell (NASDAQ:CBLL - Get Free Report)'s share price shot up 4.5% during trading on Monday . The stock traded as high as $16.00 and last traded at $16.00. 136,379 shares were traded during trading, a decline of 50% from the average session volume of 271,881 shares. The stock had previously closed at $15.31.

Analyst Ratings Changes

Several research firms recently weighed in on CBLL. Canaccord Genuity Group restated a "buy" rating and issued a $33.00 price objective on shares of CeriBell in a report on Wednesday, February 26th. LADENBURG THALM/SH SH initiated coverage on shares of CeriBell in a report on Friday, April 4th. They issued a "buy" rating and a $32.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $32.50.

CeriBell Price Performance

The company has a 50 day simple moving average of $19.03.

CeriBell (NASDAQ:CBLL - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). The business had revenue of $18.53 million for the quarter, compared to analyst estimates of $17.55 million. As a group, analysts forecast that CeriBell will post -2.46 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Xingjuan Chao sold 15,628 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $236,139.08. Following the completion of the sale, the chief executive officer now owns 727,151 shares in the company, valued at approximately $10,987,251.61. This represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 24,700 shares of company stock valued at $372,434.

Institutional Inflows and Outflows

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