CeriBell (NASDAQ:CBLL) Shares Gap Up - Here's What Happened

Key Points

• CeriBell shares opened higher, rising from a prior close of $23.69 to $24.95 before trading at $24.7050. The company has a market capitalization of approximately $939 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $27 average price target; individual targets range from $26 to $30.
• CeriBell missed quarterly EPS expectations, reporting a loss of $0.51 per share versus the projected $0.47 loss, although revenue of $28.1 million exceeded estimates. Insiders sold 174,905 shares worth about $4.3 million during the quarter.

CeriBell, Inc. (NASDAQ:CBLL - Get Free Report)'s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $23.69, but opened at $24.95. CeriBell shares last traded at $24.7050, with a volume of 10,850 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on CBLL shares. Weiss Ratings lowered shares of CeriBell from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. Canaccord Genuity Group increased their price objective on CeriBell from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $29.00 target price on shares of CeriBell in a research note on Thursday, September 3rd. BTIG Research reiterated a "buy" rating and set a $30.00 price target on shares of CeriBell in a report on Friday, September 11th. Finally, Barclays upgraded shares of CeriBell to a "neutral" rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

CeriBell Stock Down 1.6%

The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $22.91 and a two-hundred day moving average of $20.28. The company has a market capitalization of $938.77 million, a P/E ratio of -13.90 and a beta of 0.94.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.04). The business had revenue of $28.10 million during the quarter, compared to analysts' expectations of $27.28 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. On average, research analysts predict that CeriBell, Inc. will post -1.96 EPS for the current year.

Insider Transactions at CeriBell

In related news, CEO Xingjuan Chao sold 39,540 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $24.61, for a total transaction of $973,079.40. Following the sale, the chief executive officer directly owned 767,191 shares of the company's stock, valued at $18,880,570.51. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Taylor sold 13,095 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $23.40, for a total transaction of $306,423.00. Following the sale, the director directly owned 48,478 shares in the company, valued at approximately $1,134,385.20. The trade was a 21.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 174,905 shares of company stock valued at $4,312,995. 17.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CeriBell

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CeriBell in the second quarter worth approximately $37,657,000. KCM Capital Inc grew its holdings in CeriBell by 40.0% during the 1st quarter. KCM Capital Inc now owns 1,400,000 shares of the company's stock valued at $25,662,000 after buying an additional 400,000 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in CeriBell in the second quarter worth $17,437,000. TimesSquare Capital Management LLC bought a new stake in shares of CeriBell in the 2nd quarter worth about $15,182,000. Finally, Bank of America Corp DE raised its position in CeriBell by 15.3% during the first quarter. Bank of America Corp DE now owns 319,837 shares of the company's stock valued at $5,863,000 after purchasing an additional 42,340 shares during the period.

CeriBell Company Profile

CeriBell, Inc develops medical technology designed to make electroencephalography (EEG) more accessible in acute-care settings. Its primary product is the Ceribell Rapid Response EEG system, a portable, point-of-care platform that enables clinicians to record and assess brain activity at the bedside, including when evaluating patients for seizures and status epilepticus.

The Ceribell system combines a simplified EEG headband and recording device with software that supports rapid interpretation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.