CeriBell, Inc. $CBLL Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has reduced its stake in CeriBell, Inc. by 52.6%, resulting in ownership of 28,820 shares worth $554,000 at the end of the first quarter.
• CeriBell reported a revenue of $21.20 million for the quarter, surpassing analysts' expectations, while also posting a loss of ($0.38) earnings per share.
• The stock has seen a 3.5% decline recently, trading at $11.44, with a market cap of $419.39 million.

Fred Alger Management LLC decreased its holdings in CeriBell, Inc. (NASDAQ:CBLL - Free Report) by 52.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,820 shares of the company's stock after selling 31,941 shares during the quarter. Fred Alger Management LLC owned 0.08% of CeriBell worth $554,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TPG GP A LLC bought a new stake in CeriBell during the fourth quarter worth $102,677,000. Red Tree Management LLC acquired a new stake in shares of CeriBell in the fourth quarter valued at about $57,083,000. Yu Fan bought a new position in CeriBell during the 4th quarter worth approximately $31,631,000. Federated Hermes Inc. grew its holdings in CeriBell by 111.3% during the 1st quarter. Federated Hermes Inc. now owns 786,751 shares of the company's stock worth $15,113,000 after acquiring an additional 414,500 shares during the period. Finally, TimesSquare Capital Management LLC bought a new stake in CeriBell in the first quarter worth approximately $10,312,000.

Analyst Ratings Changes

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

CeriBell Trading Down 2.3%

Shares of CBLL traded down $0.28 during trading hours on Tuesday, hitting $11.67. The company had a trading volume of 169,985 shares, compared to its average volume of 260,357. 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 firm has a market cap of $427.82 million and a P/E ratio of -3.90. CeriBell, Inc. has a 52-week low of $10.01 and a 52-week high of $32.75. The stock's 50 day moving average price is $13.32 and its 200 day moving average price is $16.41.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.02. The business had revenue of $21.20 million during the quarter, compared to analyst estimates of $20.52 million. CeriBell had a negative return on equity of 48.42% and a negative net margin of 63.83%. CeriBell has set its FY 2025 guidance at EPS. On average, research analysts predict that CeriBell, Inc. will post -2.46 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Xingjuan Chao sold 25,000 shares of the 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 sale, the chief executive officer directly owned 776,022 shares of the company's stock, valued at $13,735,589.40. This represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rebecca B. Robertson sold 11,188 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $17.85, for a total transaction of $199,705.80. Following the completion of the transaction, the director owned 10,042 shares in the company, valued at approximately $179,249.70. The trade was a 52.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,054 shares of company stock worth $652,347. 20.10% of the stock is owned by corporate insiders.

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.