CeriBell (NASDAQ:CBLL) Stock Price Up 4% – Should You Buy?

CeriBell, Inc. (NASDAQ:CBLL)’s stock price was up 4% during mid-day trading on Monday. The stock traded as high as $24.43 and last traded at $24.5850. 318,852 shares were traded during trading, a decline of 7% from the average session volume of 341,821 shares. The stock had previously closed at $23.63.

Wall Street Analysts Forecast Growth

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

CeriBell Price Performance

The stock has a market cap of $1.00 billion, a P/E ratio of -14.85 and a beta of 0.94. The company has a current ratio of 9.18, a quick ratio of 8.79 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $23.68 and its 200-day simple moving average is $20.51.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.04). CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. The business had revenue of $28.10 million for the quarter, compared to the consensus estimate of $27.28 million. As a group, sell-side analysts forecast that CeriBell, Inc. will post -1.96 EPS for the current year.

Insider Transactions at CeriBell

In other CeriBell news, CTO Raymond Woo sold 4,887 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were 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 owned 203,118 shares in the company, valued at $4,941,860.94. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Xingjuan Chao sold 39,540 shares of CeriBell stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $24.61, for a total value of $973,079.40. Following the sale, the chief executive officer directly owned 767,191 shares in the company, valued at $18,880,570.51. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 174,905 shares of company stock valued at $4,312,995. Corporate insiders own 17.70% of the company’s stock.

Institutional Trading of CeriBell

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in CeriBell during the second quarter worth $638,000. Wellington Management Group LLP lifted its holdings in shares of CeriBell by 5.5% during the second quarter. Wellington Management Group LLP now owns 87,698 shares of the company’s stock valued at $1,706,000 after acquiring an additional 4,572 shares during the period. Formula Growth Ltd. bought a new position in shares of CeriBell during the second quarter valued at $603,000. Bank of America Corp DE acquired a new stake in shares of CeriBell in the 2nd quarter valued at $4,619,000. Finally, PDT Partners LLC acquired a new stake in shares of CeriBell in the 2nd quarter valued at $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.