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 position in shares of CeriBell, Inc. (NASDAQ:CBLL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 183,795 shares of the company's stock, valued at approximately $3,531,000. CenterBook Partners LP owned about 0.51% of CeriBell as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBLL. Deutsche Bank AG raised its holdings in shares of CeriBell by 0.4% during the 1st quarter. Deutsche Bank AG now owns 231,629 shares of the company's stock valued at $4,450,000 after buying an additional 842 shares during the period. Legal & General Group Plc bought a new stake in shares of CeriBell in the 4th quarter worth approximately $32,000. Summit Investment Advisors Inc. bought a new stake in CeriBell in the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC bought a new stake in CeriBell during the 4th quarter valued at $37,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of CeriBell by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 416,908 shares of the company's stock valued at $8,009,000 after purchasing an additional 1,547 shares during the period.

Analysts Set New Price Targets

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

Insider Activity at CeriBell

In other news, Director Rebecca B. Robertson sold 11,188 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $17.85, for a total value of $199,705.80. Following the completion of the transaction, the director owned 10,042 shares in the company, valued at $179,249.70. This trade represents a 52.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Xingjuan Chao sold 25,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were 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 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 90 days. Company insiders own 20.10% of the company's stock.

CeriBell Stock Down 15.3%

NASDAQ:CBLL opened at $12.78 on Thursday. The stock's fifty day moving average price is $16.86 and its two-hundred day moving average price is $18.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 16.81 and a current ratio of 17.36. The company has a market cap of $461.87 million and a price-to-earnings ratio of -4.27. CeriBell, Inc. has a 52-week low of $10.01 and a 52-week high of $32.75.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.02. The company had revenue of $21.20 million during the quarter, compared to analysts' expectations of $20.52 million. CeriBell had a negative return on equity of 62.80% and a negative net margin of 63.83%. On average, analysts anticipate that CeriBell, Inc. will post -2.46 EPS for the current year.

CeriBell 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.

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