Canaccord Genuity Group Increases CeriBell (NASDAQ:CBLL) Price Target to $30.00

CeriBell (NASDAQ:CBLL) had its price objective boosted by Canaccord Genuity Group from $29.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 37.90% from the company’s previous close.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of CeriBell in a research note on Wednesday, October 8th. TD Cowen cut their price target on CeriBell from $36.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Raymond James Financial began coverage on CeriBell in a research note on Tuesday, October 21st. They issued a “strong-buy” rating and a $19.00 price objective on the stock. Cowen reissued a “buy” rating on shares of CeriBell in a report on Tuesday, December 9th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of CeriBell in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.67.

CeriBell Price Performance

NASDAQ CBLL traded down $0.24 during trading hours on Wednesday, reaching $21.76. 350,997 shares of the stock traded hands, compared to its average volume of 317,383. The company has a debt-to-equity ratio of 0.12, a current ratio of 12.65 and a quick ratio of 12.25. The company has a market cap of $807.11 million, a price-to-earnings ratio of -14.40 and a beta of 1.35. The stock has a 50 day simple moving average of $14.71 and a two-hundred day simple moving average of $14.56. CeriBell has a 1 year low of $10.01 and a 1 year high of $28.43.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The business had revenue of $22.59 million for the quarter, compared to analysts’ expectations of $21.78 million. CeriBell had a negative return on equity of 29.63% and a negative net margin of 63.35%. On average, analysts predict that CeriBell will post -2.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rebecca B. Robertson sold 5,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the director directly owned 8,388 shares of the company’s stock, valued at $167,760. This trade represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Josef Parvizi sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $20.26, for a total value of $506,500.00. Following the completion of the transaction, the director owned 797,652 shares of the company’s stock, valued at approximately $16,160,429.52. The trade was a 3.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 202,156 shares of company stock valued at $3,483,572 in the last 90 days. 20.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CeriBell

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of CeriBell by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,473,856 shares of the company’s stock worth $16,935,000 after purchasing an additional 147,013 shares during the period. Yu Fan boosted its holdings in CeriBell by 10.7% in the second quarter. Yu Fan now owns 1,353,166 shares of the company’s stock valued at $25,345,000 after purchasing an additional 130,964 shares during the period. Novo Holdings A S raised its holdings in shares of CeriBell by 2.3% in the 2nd quarter. Novo Holdings A S now owns 900,000 shares of the company’s stock valued at $16,857,000 after purchasing an additional 20,000 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in shares of CeriBell by 2.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 817,645 shares of the company’s stock worth $9,395,000 after acquiring an additional 20,700 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in CeriBell by 41.8% during the third quarter. Millennium Management LLC now owns 666,448 shares of the company’s stock worth $7,657,000 after purchasing an additional 196,299 shares in the last quarter.

About CeriBell

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.