Orbimed Advisors LLC Takes Position in CeriBell (NASDAQ:CBLL)

Orbimed Advisors LLC bought a new position in CeriBell (NASDAQ:CBLL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 112,500 shares of the company’s stock, valued at approximately $2,912,000. Orbimed Advisors LLC owned 0.31% of CeriBell at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in CeriBell in the fourth quarter worth about $32,000. Summit Investment Advisors Inc. bought a new stake in shares of CeriBell in the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC acquired a new stake in CeriBell during the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets bought a new stake in CeriBell during the fourth quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. acquired a new position in CeriBell in the fourth quarter worth approximately $47,000.

CeriBell Trading Up 7.5%

NASDAQ:CBLL opened at $17.16 on Tuesday. CeriBell has a 1-year low of $10.01 and a 1-year high of $32.75. The company’s fifty day simple moving average is $17.93.

CeriBell (NASDAQ:CBLL) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The company had revenue of $20.49 million for the quarter, compared to analyst estimates of $19.30 million. Equities research analysts predict that CeriBell will post -2.46 EPS for the current year.

Insider Activity

In related news, CEO Xingjuan Chao sold 15,628 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $236,139.08. Following the completion of the sale, the chief executive officer now directly owns 727,151 shares in the company, valued at approximately $10,987,251.61. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 24,700 shares of company stock worth $372,434 in the last ninety days.

Analyst Upgrades and Downgrades

CBLL has been the subject of a number of recent research reports. LADENBURG THALM/SH SH started coverage on CeriBell in a research report on Friday, April 4th. They set a “buy” rating and a $32.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $33.00 target price on shares of CeriBell in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $32.50.

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.