CeriBell (NASDAQ:CBLL) Trading Up 9.7% - Here's Why

Key Points

• CeriBell shares rose 9.7% to $23.37, following bullish analyst actions from Canaccord Genuity and BTIG Research. The stock carries a “Moderate Buy” consensus rating, with a $22 average target and targets as high as $28.
• Quarterly revenue of $28.1 million exceeded estimates, but the company reported an adjusted loss of $0.51 per share versus the expected $0.47 loss. CeriBell remains unprofitable, with a negative net margin of 64.73% and analysts projecting a full-year loss.
• Institutional interest has increased, including new positions by BlackRock and TimesSquare Capital, while insiders sold approximately $5.9 million of shares over the past 90 days. Company insiders continue to own 17.7% of the stock.

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report)'s share price shot up 9.7% on Wednesday . The stock traded as high as $23.37 and last traded at $23.37. Approximately 335,512 shares changed hands during trading, a decline of 2% from the average session volume of 341,043 shares. The stock had previously closed at $21.31.

Analyst Upgrades and Downgrades

CBLL has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on CeriBell from $25.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday. Weiss Ratings lowered CeriBell from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 14th. Finally, BTIG Research reiterated a "buy" rating and issued a $28.00 price target on shares of CeriBell in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.00.

CeriBell Stock Up 7.0%

The company has a quick ratio of 10.01, a current ratio of 10.44 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $865.41 million, a price-to-earnings ratio of -12.96 and a beta of 0.81. The business's 50-day moving average is $18.63 and its 200-day moving average is $19.07.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The company had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.28 million. CeriBell had a negative return on equity of 43.02% and a negative net margin of 64.73%. As a group, equities analysts predict that CeriBell, Inc. will post -1.69 earnings per share for the current year.

Insider Activity

In related news, Director Joseph Michael Taylor sold 5,500 shares of CeriBell stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.41, for a total transaction of $101,255.00. Following the completion of the transaction, the director directly owned 61,573 shares in the company, valued at approximately $1,133,558.93. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Raymond Woo sold 1,966 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $18.00, for a total value of $35,388.00. Following the completion of the transaction, the chief technology officer directly owned 195,682 shares of the company's stock, valued at $3,522,276. The trade was a 0.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 300,685 shares of company stock valued at $5,935,326 over the last 90 days. Company insiders own 17.70% of the company's stock.

Institutional Trading of CeriBell

A number of hedge funds have recently added to or reduced their stakes in CBLL. BlackRock Inc. acquired a new position in CeriBell in the 2nd quarter worth about $37,657,000. Bank of New York Mellon Corp grew its holdings in CeriBell by 1,945.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,221,927 shares of the company's stock valued at $26,797,000 after purchasing an additional 1,162,200 shares during the period. KCM Capital Inc purchased a new stake in shares of CeriBell in the fourth quarter valued at approximately $21,930,000. TimesSquare Capital Management LLC purchased a new stake in shares of CeriBell in the second quarter valued at approximately $15,182,000. Finally, Royce & Associates LP acquired a new position in shares of CeriBell during the 4th quarter worth approximately $11,695,000.

CeriBell Company Profile

CeriBell Corp NASDAQ: CBLL is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell's solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company's product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.

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