CeriBell (NASDAQ:CBLL) Shares Down 7.8% – Here’s What Happened

Shares of CeriBell, Inc. (NASDAQ:CBLL) fell 7.8% on Thursday . The stock traded as low as $16.60 and last traded at $16.51. 242,264 shares changed hands during trading, a decline of 24% from the average session volume of 319,536 shares. The stock had previously closed at $17.91.

Analyst Upgrades and Downgrades

Several research firms have commented on CBLL. Weiss Ratings lowered shares of CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of CeriBell in a report on Wednesday, January 28th. Finally, Canaccord Genuity Group cut their price target on CeriBell from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CeriBell has an average rating of “Moderate Buy” and an average target price of $22.20.

CeriBell Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.35 and a current ratio of 10.44. The stock has a market capitalization of $623.60 million, a PE ratio of -10.10 and a beta of 0.99. The business’s 50-day moving average price is $19.16 and its 200 day moving average price is $18.87.

CeriBell (NASDAQ:CBLL) last posted its earnings results on Monday, May 11th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.13). The business had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.09 million. CeriBell had a negative return on equity of 38.19% and a negative net margin of 63.51%. Research analysts forecast that CeriBell, Inc. will post -1.44 earnings per share for the current year.

Insider Activity at CeriBell

In other news, Director Josef Parvizi sold 16,714 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $20.27, for a total value of $338,792.78. Following the transaction, the director owned 722,652 shares of the company’s stock, valued at $14,648,156.04. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Xingjuan Chao sold 39,000 shares of CeriBell stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.45, for a total transaction of $680,550.00. Following the sale, the chief executive officer directly owned 711,164 shares of the company’s stock, valued at $12,409,811.80. This represents a 5.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,119 shares of company stock worth $3,310,772 in the last 90 days. 20.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CeriBell

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of CeriBell by 6,424.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 380,003 shares of the company’s stock valued at $7,117,000 after purchasing an additional 374,179 shares during the last quarter. Rhumbline Advisers grew its stake in shares of CeriBell by 109.9% during the second quarter. Rhumbline Advisers now owns 32,806 shares of the company’s stock valued at $614,000 after buying an additional 17,177 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of CeriBell by 148.6% in the second quarter. New York State Common Retirement Fund now owns 8,700 shares of the company’s stock worth $163,000 after buying an additional 5,200 shares during the period. Quantbot Technologies LP boosted its position in CeriBell by 70.3% during the 2nd quarter. Quantbot Technologies LP now owns 15,504 shares of the company’s stock valued at $290,000 after buying an additional 6,401 shares during the period. Finally, Invesco Ltd. bought a new stake in CeriBell in the 2nd quarter worth $197,000.

About CeriBell

CeriBell Corp (NASDAQ: CBLL) is a healthcare technology company specializing in the design, manufacture and sale of automated newborn hearing screening devices. The company offers a suite of medical diagnostic tools based on otoacoustic emissions (OAE) and auditory brainstem response (ABR) technologies, enabling early detection of auditory impairments in infants. CeriBell’s solutions are used in hospitals, birthing centers and audiology clinics to support universal newborn hearing screening programs aimed at improving language development outcomes through prompt intervention.

The company’s product portfolio includes handheld and desktop screening units, proprietary software for data management, and accessories designed to streamline testing workflows.