Bank of New York Mellon Corp Invests $17.44 Million in CeriBell, Inc. $CBLL

Key Points

• Bank of New York Mellon acquired 896,488 CeriBell shares worth approximately $17.44 million, giving it a 2.36% stake in the healthcare technology company.
• Analyst sentiment is generally positive: CeriBell has a “Moderate Buy” consensus rating and an average price target of $22.40, although ratings range from Strong Buy to Sell.
• CeriBell’s latest quarterly results showed revenue of $28.1 million, above expectations, but an adjusted loss of $0.51 per share missed estimates. The company remains unprofitable, while insiders sold shares primarily to cover tax obligations.

Bank of New York Mellon Corp purchased a new stake in shares of CeriBell, Inc. (NASDAQ:CBLL - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 896,488 shares of the company's stock, valued at approximately $17,437,000. Bank of New York Mellon Corp owned approximately 2.36% of CeriBell at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Strs Ohio purchased a new stake in CeriBell in the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in CeriBell by 3,971.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,262 shares of the company's stock valued at $28,000 after buying an additional 1,231 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in CeriBell during the 3rd quarter valued at $33,000. CWM LLC lifted its holdings in shares of CeriBell by 1,178.5% during the 4th quarter. CWM LLC now owns 1,841 shares of the company's stock valued at $40,000 after buying an additional 1,697 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of CeriBell by 353.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,310 shares of the company's stock valued at $43,000 after buying an additional 1,801 shares during the period.

Wall Street Analysts Forecast Growth

CBLL has been the subject of several research analyst reports. BTIG Research lifted their price objective on CeriBell from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Weiss Ratings downgraded CeriBell from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday. Canaccord Genuity Group raised their target price on CeriBell from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Barclays upgraded CeriBell to a "neutral" rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.40.

CeriBell Stock Up 1.1%

NASDAQ CBLL opened at $23.98 on Tuesday. CeriBell, Inc. has a 52 week low of $10.85 and a 52 week high of $25.33. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $920.35 million, a P/E ratio of -13.62 and a beta of 0.81. The stock's 50-day moving average price is $20.23 and its 200-day moving average price is $19.36.

CeriBell (NASDAQ:CBLL - Get Free Report) last issued 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 firm had revenue of $28.10 million for the quarter, compared to analysts' expectations 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 predict that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insider Buying and Selling at CeriBell

In related news, CFO Scott Blumberg sold 1,521 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $24.02, for a total transaction of $36,534.42. Following the completion of the sale, the chief financial officer owned 146,600 shares in the company, valued at approximately $3,521,332. This trade represents a 1.03% decrease in their ownership of the stock. The transaction 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, CRO Joseph S. Manni sold 1,361 shares of CeriBell stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $32,691.22. Following the sale, the executive directly owned 55,956 shares in the company, valued at $1,344,063.12. This trade represents a 2.37% decrease in their position. 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. Over the last quarter, insiders sold 382,067 shares of company stock valued at $8,025,866. 17.70% of the stock is currently owned by corporate insiders.

CeriBell 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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