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

CeriBell, Inc. (NASDAQ:CBLL)’s stock price 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 traded. The stock had previously closed at $27.22.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBLL shares. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a research report on Friday, September 11th. Weiss Ratings raised shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Canaccord Genuity Group raised their price target on shares of CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. TD Cowen boosted their price objective on shares of CeriBell from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Barclays upgraded CeriBell to a “neutral” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, CeriBell has a consensus rating of “Moderate Buy” and an average target price of $27.00.

CeriBell Stock Up 2.5%

The firm’s 50 day moving average price is $24.82 and its 200-day moving average price is $20.77. 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 has a market cap of $1.07 billion, a P/E ratio of -15.79 and a beta of 0.94.

CeriBell (NASDAQ:CBLL) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.51) earnings per share 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, equities research analysts expect that CeriBell, Inc. will post -1.96 EPS for the current year.

Insider Activity at CeriBell

In related news, VP David Foehr sold 9,255 shares of CeriBell stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $24.25, for a total transaction of $224,433.75. Following the completion of the sale, the vice president directly owned 34,144 shares of the company’s stock, valued at $827,992. The trade was a 21.33% 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, CRO Joseph S. Manni sold 1,361 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $24.02, for a total value of $32,691.22. Following the completion of the sale, the executive owned 55,956 shares of the company’s stock, valued at $1,344,063.12. This represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 174,905 shares of company stock worth $4,312,995. 17.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On CeriBell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in CeriBell during the 2nd quarter worth approximately $638,000. Wellington Management Group LLP increased its stake in CeriBell by 5.5% in the second quarter. Wellington Management Group LLP now owns 87,698 shares of the company’s stock valued at $1,706,000 after purchasing an additional 4,572 shares in the last quarter. Formula Growth Ltd. bought a new stake in CeriBell in the second quarter valued at approximately $603,000. Bank of America Corp DE acquired a new stake in CeriBell in the second quarter worth $4,619,000. Finally, PDT Partners LLC acquired a new stake in CeriBell in the second quarter worth $1,026,000.

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.