Federated Hermes Inc. Increases Stock Holdings in CeriBell, Inc. (NASDAQ:CBLL)

Key Points

• Federated Hermes Inc. increased its stake in CeriBell, Inc. by 111.3%, owning a total of 786,751 shares valued at approximately $15.1 million by the end of the first quarter.
• Insider sales included CEO Xingjuan Chao selling 25,000 shares for about $442,500, representing a 3.12% decrease in ownership.
• CeriBell received a consensus rating of "Buy" from eight investment analysts, with a target price of $32.14 following recent reports by research firms.

Federated Hermes Inc. increased its holdings in CeriBell, Inc. (NASDAQ:CBLL - Free Report) by 111.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 786,751 shares of the company's stock after acquiring an additional 414,500 shares during the period. Federated Hermes Inc. owned about 2.18% of CeriBell worth $15,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CBLL. FMR LLC purchased a new position in shares of CeriBell in the fourth quarter worth about $128,120,000. TPG GP A LLC bought a new position in shares of CeriBell in the 4th quarter worth about $102,677,000. Red Tree Management LLC bought a new stake in CeriBell in the fourth quarter worth $57,083,000. Yu Fan purchased a new stake in shares of CeriBell during the fourth quarter valued at approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd purchased a new position in shares of CeriBell in the fourth quarter worth $28,160,000.

Insider Buying and Selling at CeriBell

In other CeriBell news, CEO Xingjuan Chao sold 25,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $17.70, for a total value of $442,500.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rebecca B. Robertson sold 11,188 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $17.85, for a total value of $199,705.80. Following the completion of the sale, the director owned 10,042 shares of the company's stock, valued at $179,249.70. The trade was a 52.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,633 shares of company stock valued at $1,965,261. Corporate insiders own 20.10% of the company's stock.

Analyst Ratings Changes

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

CeriBell Price Performance

CBLL stock traded down $2.30 during mid-day trading on Wednesday, hitting $12.78. The company had a trading volume of 1,172,011 shares, compared to its average volume of 285,950. The company has a market capitalization of $461.91 million and a price-to-earnings ratio of -4.27. The company has a 50-day moving average price of $16.95 and a 200 day moving average price of $18.71. The company has a quick ratio of 16.81, a current ratio of 17.36 and a debt-to-equity ratio of 0.11. CeriBell, Inc. has a 12-month low of $10.01 and a 12-month high of $32.75.

CeriBell (NASDAQ:CBLL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. The firm had revenue of $20.49 million for the quarter, compared to the consensus estimate of $19.30 million. On average, research analysts anticipate that CeriBell, Inc. will post -2.46 earnings per share for the current year.

About CeriBell

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.