Bank of America Corp DE Purchases New Shares in CeriBell, Inc. $CBLL

Key Points

• Bank of America initiated a position in CeriBell, purchasing 237,472 shares worth approximately $4.6 million, or 0.62% of the company. BlackRock and several other institutional investors also acquired new stakes during the second quarter.
• Analyst sentiment remains broadly positive, with CeriBell receiving a consensus “Moderate Buy” rating and an average price target of $24.40; individual targets range from $26 to $30.
• CeriBell shares opened at $24.51 after rising 3.5%, but the company remains unprofitable: its latest quarterly loss of $0.51 per share missed estimates despite revenue exceeding expectations. Insiders sold nearly $5 million of stock over the past three months.

Bank of America Corp DE bought a new position in CeriBell, Inc. (NASDAQ:CBLL - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 237,472 shares of the company's stock, valued at approximately $4,619,000. Bank of America Corp DE owned 0.62% of CeriBell as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. PDT Partners LLC bought a new position in shares of CeriBell in the second quarter worth approximately $1,026,000. Legal & General Group Plc purchased a new position in shares of CeriBell in the second quarter valued at about $53,000. Quantbot Technologies LP bought a new position in shares of CeriBell in the second quarter worth about $112,000. Landscape Capital Management L.L.C. purchased a new stake in shares of CeriBell during the second quarter worth about $2,078,000. Finally, BlackRock Inc. purchased a new stake in shares of CeriBell during the second quarter worth about $37,657,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CBLL. Weiss Ratings raised CeriBell from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Canaccord Genuity Group lifted their price objective on shares of CeriBell from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Raymond James Financial reissued a "strong-buy" rating and issued a $29.00 target price on shares of CeriBell in a report on Thursday, September 3rd. Barclays raised shares of CeriBell to a "neutral" rating in a research note on Tuesday, August 18th. Finally, BTIG Research reiterated a "buy" rating and issued a $30.00 price target on shares of CeriBell in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CeriBell presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.40.

CeriBell Stock Up 3.5%

Shares of NASDAQ CBLL opened at $24.51 on Tuesday. The stock has a market capitalization of $940.69 million, a price-to-earnings ratio of -13.93 and a beta of 0.95. CeriBell, Inc. has a 12-month low of $10.85 and a 12-month high of $25.63. The company has a current ratio of 9.18, a quick ratio of 8.79 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average price is $22.20 and its 200-day moving average price is $20.09.

CeriBell (NASDAQ:CBLL - Get Free Report) last released its 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 the consensus estimate of $27.28 million. CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. On average, equities research analysts anticipate that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Insider Activity at CeriBell

In other news, CEO Xingjuan Chao sold 39,540 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $24.61, for a total value of $973,079.40. Following the sale, the chief executive officer directly owned 767,191 shares in the company, valued at approximately $18,880,570.51. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Raymond Woo sold 4,887 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $24.33, for a total value of $118,900.71. Following the transaction, the chief technology officer owned 203,118 shares of the company's stock, valued at approximately $4,941,860.94. The trade was a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 209,018 shares of company stock worth $4,969,950 in the last three months. 17.70% of the stock is owned by insiders.

CeriBell Profile

Ceribell, Inc NASDAQ: CBLL is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company's primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.

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