Lord Abbett & CO. LLC Raises Position in CeriBell, Inc. $CBLL

Key Points

• Lord Abbett & CO. LLC increased its holdings in CeriBell, Inc. by 7.9%, now owning approximately 319,501 shares worth about $6.14 million as of its latest SEC filing.
• Insider transactions include Director Rebecca B. Robertson selling 11,188 shares and CEO Xingjuan Chao selling 25,000 shares, indicating a decrease of 52.70% and 3.12% in their respective positions.
• CeriBell's stock has a current price of $12.31 with a market cap of $451.28 million, while analysts have rated it with a consensus "Buy" and a target price of $32.14.

Lord Abbett & CO. LLC grew its holdings in shares of CeriBell, Inc. (NASDAQ:CBLL - Free Report) by 7.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 319,501 shares of the company's stock after buying an additional 23,451 shares during the quarter. Lord Abbett & CO. LLC owned 0.89% of CeriBell worth $6,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CenterBook Partners LP bought a new position in shares of CeriBell during the first quarter valued at approximately $3,531,000. Ameriprise Financial Inc. purchased a new stake in shares of CeriBell in the fourth quarter valued at approximately $368,000. Bank of America Corp DE purchased a new stake in shares of CeriBell in the fourth quarter valued at approximately $498,000. Geode Capital Management LLC purchased a new stake in shares of CeriBell in the fourth quarter valued at approximately $6,654,000. Finally, Northern Trust Corp purchased a new stake in shares of CeriBell in the fourth quarter valued at approximately $2,661,000.

Insiders Place Their Bets

In other CeriBell news, Director Rebecca B. Robertson sold 11,188 shares of the company's stock in a transaction on 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 sale, the director owned 10,042 shares in the company, valued at $179,249.70. This represents a 52.70% decrease in their ownership of the stock. The transaction was disclosed in a 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 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 sale, the chief executive officer owned 776,022 shares of the company's stock, valued at approximately $13,735,589.40. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,633 shares of company stock valued at $1,541,261. 20.10% of the stock is owned by company insiders.

CeriBell Stock Up 3.9%

CeriBell stock traded up $0.46 during mid-day trading on Friday, reaching $12.14. 98,226 shares of the company were exchanged, compared to its average volume of 289,241. The business has a fifty day moving average of $15.68 and a 200 day moving average of $17.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 12.91 and a current ratio of 13.31. The firm has a market cap of $445.10 million and a P/E ratio of -4.07. 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 earnings results on Tuesday, August 5th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.02. The company 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. Research analysts anticipate that CeriBell, Inc. will post -2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.