Fred Alger Management LLC Sells 31,941 Shares of CeriBell, Inc. $CBLL

Fred Alger Management LLC lowered its stake in shares of CeriBell, Inc. (NASDAQ:CBLL) by 52.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,820 shares of the company’s stock after selling 31,941 shares during the quarter. Fred Alger Management LLC’s holdings in CeriBell were worth $554,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CenterBook Partners LP bought a new stake in CeriBell during the 1st quarter worth about $3,531,000. Ameriprise Financial Inc. bought a new stake in CeriBell during the 4th quarter worth about $368,000. Bank of America Corp DE bought a new stake in CeriBell during the 4th quarter worth about $498,000. Northern Trust Corp bought a new stake in CeriBell during the 4th quarter worth about $2,661,000. Finally, New York State Common Retirement Fund bought a new stake in CeriBell during the 1st quarter worth about $67,000.

Analysts Set New Price Targets

Separately, BTIG Research assumed coverage on shares of CeriBell in a report on Tuesday, June 24th. They set a “buy” rating and a $30.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.14.

CeriBell Stock Down 3.5%

Shares of NASDAQ CBLL opened at $11.44 on Thursday. The firm has a market capitalization of $419.39 million and a PE ratio of -3.83. The company has a current ratio of 13.31, a quick ratio of 12.91 and a debt-to-equity ratio of 0.11. CeriBell, Inc. has a 1 year low of $10.01 and a 1 year high of $32.75. The firm’s 50-day moving average is $13.82 and its 200-day moving average is $16.82.

CeriBell (NASDAQ:CBLL) last issued its earnings results on Tuesday, August 5th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. The company had revenue of $21.20 million for the quarter, compared to analyst estimates of $20.52 million. CeriBell had a negative net margin of 63.83% and a negative return on equity of 48.42%. CeriBell has set its FY 2025 guidance at EPS. Equities analysts expect that CeriBell, Inc. will post -2.46 EPS for the current year.

Insider Activity

In related news, CEO Xingjuan Chao sold 25,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $17.70, for a total value of $442,500.00. Following the sale, the chief executive officer directly owned 776,022 shares in the company, valued at $13,735,589.40. This trade represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rebecca B. Robertson sold 20,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $17.14, for a total transaction of $342,800.00. Following the completion of the sale, the director owned 28,675 shares in the company, valued at $491,489.50. This represents a 41.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,499 shares of company stock worth $1,126,402 in the last ninety days. Insiders own 20.10% of the company’s stock.

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.