CeriBell (NASDAQ:CBLL) Sets New 12-Month High – Should You Buy?

Shares of CeriBell, Inc. (NASDAQ:CBLL) hit a new 52-week high during trading on Thursday. The company traded as high as $28.19 and last traded at $27.5960, with a volume of 64,614 shares trading hands. The stock had previously closed at $27.22.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a research report on Friday, September 11th. TD Cowen boosted their price objective on CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Canaccord Genuity Group upped their target price on CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $29.00 target price on shares of CeriBell in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.00.

CeriBell Price Performance

The business’s 50 day moving average price is $24.92 and its 200-day moving average price is $20.80. 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 market cap of $1.02 billion, a PE ratio of -15.09 and a beta of 0.94.

CeriBell (NASDAQ:CBLL) last announced its earnings results on Monday, August 10th. The company reported ($0.51) earnings per share 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 analysts’ expectations of $27.28 million. As a group, analysts forecast that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Scott Blumberg sold 33,512 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $25.03, for a total transaction of $838,805.36. Following the completion of the sale, the chief financial officer directly owned 148,121 shares in the company, valued at $3,707,468.63. This trade represents a 18.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $118,900.71. Following the sale, the chief technology officer owned 203,118 shares of the company’s stock, valued at $4,941,860.94. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 174,905 shares of company stock worth $4,312,995 over the last quarter. Company insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On CeriBell

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

About CeriBell

CeriBell, Inc is a medical technology company that develops artificial intelligence-enabled neurological diagnostic products. Its technology is designed to help healthcare professionals rapidly identify and monitor seizures, including nonconvulsive seizures that may be difficult to recognize through a standard clinical examination.

The company’s primary product is the Ceribell Rapid Response EEG system, a portable electroencephalography platform that combines a wireless EEG recorder, a simplified disposable headband, and software-based analysis tools.