CeriBell (NASDAQ:CBLL) Hits New 52-Week High – Time to Buy?

CeriBell, Inc. (NASDAQ:CBLL)’s stock price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $25.80 and last traded at $25.8230, with a volume of 77,002 shares. The stock had previously closed at $25.26.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Canaccord Genuity Group upped their target price on shares of CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Barclays raised CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. BTIG Research reaffirmed a “buy” rating and set a $30.00 target price on shares of CeriBell in a report on Friday, September 11th. TD Cowen increased their price objective on CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $29.00 price target on shares of CeriBell in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

CeriBell Trading Up 4.0%

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -14.90 and a beta of 0.94. 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’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $20.46.

CeriBell (NASDAQ:CBLL) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.04). CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. The firm had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. Research analysts expect that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insider Activity

In other news, CTO Raymond Woo sold 4,887 shares of CeriBell stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $24.33, for a total transaction of $118,900.71. Following the completion of the transaction, the chief technology officer directly owned 203,118 shares in the company, valued at approximately $4,941,860.94. The trade was a 2.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $973,079.40. Following the transaction, the chief executive officer owned 767,191 shares in the company, valued at $18,880,570.51. The trade was a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 174,905 shares of company stock worth $4,312,995. 17.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CeriBell

A number of hedge funds have recently made changes to their positions in CBLL. Squarepoint Ops LLC acquired a new stake in shares of CeriBell in the second quarter valued at about $638,000. Wellington Management Group LLP raised its stake in CeriBell by 5.5% during the second quarter. Wellington Management Group LLP now owns 87,698 shares of the company’s stock worth $1,706,000 after buying an additional 4,572 shares during the last quarter. Formula Growth Ltd. acquired a new stake in CeriBell during the 2nd quarter worth about $603,000. Bank of America Corp DE acquired a new stake in CeriBell during the second quarter worth approximately $4,619,000. Finally, PDT Partners LLC bought a new position in shares of CeriBell during the 2nd quarter worth approximately $1,026,000.

About CeriBell

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.