BlackRock Inc. Acquires New Holdings in CeriBell, Inc. $CBLL

Key Points

• BlackRock acquired a new 5.10% stake in CeriBell during the second quarter, purchasing 1.94 million shares valued at approximately $37.7 million. Several other institutional investors also recently built positions.
• CeriBell’s shares opened at $24.58, near their 52-week high of $25.33. The company reported $28.1 million in quarterly revenue but missed earnings estimates, posting a loss of $0.51 per share.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $22.40 price target, although insiders sold $8.0 million of stock over the past three months, primarily to cover tax obligations from vested equity awards.

BlackRock Inc. bought a new position in shares of CeriBell, Inc. (NASDAQ:CBLL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,936,093 shares of the company's stock, valued at approximately $37,657,000. BlackRock Inc. owned approximately 5.10% of CeriBell as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CBLL. Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 1,162,200 shares during the period. KCM Capital Inc acquired a new position in CeriBell in the 4th quarter worth $21,930,000. TimesSquare Capital Management LLC bought a new position in CeriBell during the 2nd quarter worth about $15,182,000. Royce & Associates LP bought a new stake in shares of CeriBell in the fourth quarter valued at about $11,695,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of CeriBell during the fourth quarter worth about $10,965,000.

Insider Activity

In related news, CRO Joseph S. Manni sold 1,361 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $32,691.22. Following the completion of the sale, the executive directly owned 55,956 shares in the company, valued at approximately $1,344,063.12. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Xingjuan Chao sold 6,068 shares of CeriBell stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $24.02, for a total value of $145,753.36. Following the transaction, the chief executive officer owned 781,731 shares of the company's stock, valued at $18,777,178.62. The trade was a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 382,067 shares of company stock valued at $8,025,866. 17.70% of the stock is owned by corporate insiders.

CeriBell Price Performance

NASDAQ:CBLL opened at $24.58 on Wednesday. CeriBell, Inc. has a 52-week low of $10.85 and a 52-week high of $25.33. The company has a market cap of $943.38 million, a P/E ratio of -13.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.79 and a current ratio of 9.18. The stock's 50-day simple moving average is $20.35 and its 200 day simple moving average is $19.39.

CeriBell (NASDAQ:CBLL - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.04). CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. The company had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. As a group, sell-side analysts forecast that CeriBell, Inc. will post -1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CBLL shares. Weiss Ratings lowered CeriBell from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. BTIG Research upped their price target on CeriBell from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Canaccord Genuity Group raised their price target on shares of CeriBell from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Barclays upgraded shares of CeriBell to a "neutral" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.40.

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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