CenterBook Partners LP Buys Shares of 183,795 CeriBell, Inc. (NASDAQ:CBLL)

Key Points

• CenterBook Partners LP acquired 183,795 shares of CeriBell, Inc., valued at approximately $3.53 million, during the first quarter, increasing its ownership to 0.51% of the company's stock.
• Analysts from BTIG Research have given CeriBell a "buy" rating with a price target of $30.00, contributing to a consensus rating of "Buy" and an average price target of $32.14.
• CeriBell's stock has decreased by 15.3% recently, with current trading at $12.78, while the company reported a quarterly revenue of $21.20 million, surpassing analyst expectations.

CenterBook Partners LP acquired a new stake in shares of CeriBell, Inc. (NASDAQ:CBLL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 183,795 shares of the company's stock, valued at approximately $3,531,000. CenterBook Partners LP owned approximately 0.51% of CeriBell as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in CeriBell during the 4th quarter valued at approximately $32,000. Summit Investment Advisors Inc. acquired a new position in shares of CeriBell in the 4th quarter worth approximately $33,000. KLP Kapitalforvaltning AS acquired a new position in CeriBell during the 1st quarter valued at approximately $36,000. Tower Research Capital LLC TRC acquired a new position in CeriBell during the 4th quarter valued at approximately $37,000. Finally, BNP Paribas Financial Markets acquired a new position in CeriBell during the 4th quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

Separately, BTIG Research began coverage on CeriBell in a research report on Tuesday, June 24th. They set a "buy" rating and a $30.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, CeriBell currently has an average rating of "Buy" and a consensus price target of $32.14.

CeriBell Stock Performance

CeriBell stock traded down $0.67 during mid-day trading on Monday, hitting $12.25. 220,414 shares of the company's stock traded hands, compared to its average volume of 289,277. The firm has a 50 day moving average price of $16.70 and a 200 day moving average price of $18.47. The company has a quick ratio of 12.91, a current ratio of 13.31 and a debt-to-equity ratio of 0.11. The company has a market cap of $448.90 million and a PE ratio of -4.10. CeriBell, Inc. has a one year low of $10.01 and a one year high of $32.75.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.02. CeriBell had a negative return on equity of 48.42% and a negative net margin of 63.83%. The firm had revenue of $21.20 million for the quarter, compared to the consensus estimate of $20.52 million. On average, equities analysts forecast that CeriBell, Inc. will post -2.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director Rebecca B. Robertson sold 11,188 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $17.85, for a total value of $199,705.80. Following the sale, the director owned 10,042 shares of the company's stock, valued at approximately $179,249.70. The trade was a 52.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Xingjuan Chao sold 25,000 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $17.70, for a total value of $442,500.00. Following the completion of the sale, the chief executive officer directly owned 776,022 shares in the company, valued at $13,735,589.40. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,633 shares of company stock worth $1,965,261 in the last three months. Company insiders own 20.10% of the company's stock.

CeriBell Company Profile

We are a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care electroencephalography (“EEG”) platform specifically designed to address the unmet needs of patients in the acute care setting.