CeriBell, Inc. (NASDAQ:CBLL) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate CeriBell “Moderate Buy”, based on six ratings, with an average 12-month price target of $31.25. Canaccord Genuity and TD Cowen raised their targets to $33.
• CeriBell reported quarterly revenue of $29.34 million, slightly above estimates, but its loss of $0.55 per share was wider than the expected $0.51 loss.
• Shares rose 2.2% to $26.59 in Friday mid-day trading. Company insiders sold 179,792 shares worth about $4.44 million over the last quarter.

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.25.

Several equities analysts recently commented on the company. Canaccord Genuity Group increased their target price on CeriBell from $26.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday. BTIG Research reiterated a "buy" rating on shares of CeriBell in a research note on Wednesday. Raymond James Financial reissued a "strong-buy" rating and set a $29.00 price objective on shares of CeriBell in a research report on Thursday, September 3rd. TD Cowen lifted their price objective on shares of CeriBell from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Finally, Barclays raised shares of CeriBell to a "neutral" rating in a report on Tuesday, August 18th.

CeriBell Stock Up 2.2%

Shares of NASDAQ CBLL traded up $0.58 during mid-day trading on Friday, hitting $26.59. The company had a trading volume of 436,388 shares, compared to its average volume of 562,058. The company has a market capitalization of $1.02 billion, a PE ratio of -13.71 and a beta of 0.86. The business's 50-day simple moving average is $25.25 and its 200 day simple moving average is $20.92. CeriBell has a 1-year low of $11.27 and a 1-year high of $28.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.18 and a quick ratio of 8.79.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.04). CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. The company had revenue of $29.34 million for the quarter, compared to analyst estimates of $29.18 million. On average, analysts predict that CeriBell will post -2.03 earnings per share for the current year.

Insider Activity

In other CeriBell news, CFO Scott Blumberg sold 1,521 shares of CeriBell stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $24.02, for a total value of $36,534.42. Following the transaction, the chief financial officer directly owned 146,600 shares in the company, valued at approximately $3,521,332. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP David Foehr sold 9,255 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total value of $224,433.75. Following the completion of the transaction, the vice president directly owned 34,144 shares in the company, valued at approximately $827,992. The trade was a 21.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 179,792 shares of company stock worth $4,444,748 over the last quarter. 17.70% of the stock is owned by insiders.

Hedge Funds Weigh In On CeriBell

Institutional investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC acquired a new stake in shares of CeriBell in the 3rd quarter worth $4,466,000. Squarepoint Ops LLC purchased a new stake in CeriBell in the 2nd quarter valued at approximately $638,000. Wellington Management Group LLP increased its position in CeriBell by 5.5% during the 2nd quarter. Wellington Management Group LLP now owns 87,698 shares of the company's stock worth $1,706,000 after purchasing an additional 4,572 shares during the period. Formula Growth Ltd. acquired a new position in CeriBell during the 2nd quarter worth approximately $603,000. Finally, Bank of America Corp DE acquired a new position in CeriBell during the 2nd quarter worth approximately $4,619,000.

CeriBell Company Profile

CeriBell, Inc is a medical technology company that develops artificial intelligence-enabled neurological diagnostic products. Its technology is designed to help healthcare professionals rapidly identify and monitor seizures, including nonconvulsive seizures that may be difficult to recognize through a standard clinical examination.

The company's primary product is the Ceribell Rapid Response EEG system, a portable electroencephalography platform that combines a wireless EEG recorder, a simplified disposable headband, and software-based analysis tools.

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