CeriBell (NASDAQ:CBLL) Stock Price Up 9.7% – What’s Next?

CeriBell, Inc. (NASDAQ:CBLL) was up 9.7% during trading on Wednesday . The stock traded as high as $23.37 and last traded at $23.37. 335,512 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 341,043 shares. The stock had previously closed at $21.31.

Wall Street Analyst Weigh In

Several research firms have issued reports on CBLL. BTIG Research reaffirmed a “buy” rating and set a $28.00 price objective on shares of CeriBell in a report on Tuesday. Canaccord Genuity Group boosted their target price on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded shares of CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

CeriBell Stock Performance

The company has a quick ratio of 10.01, a current ratio of 10.44 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $18.63 and a two-hundred day moving average price of $19.07. The firm has a market cap of $865.41 million, a PE ratio of -12.96 and a beta of 0.81.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.04). CeriBell had a negative return on equity of 43.02% and a negative net margin of 64.73%.The firm had revenue of $28.10 million for the quarter, compared to analysts’ expectations of $27.28 million. Research analysts forecast that CeriBell, Inc. will post -1.69 EPS for the current fiscal year.

Insider Buying and Selling at CeriBell

In related news, CEO Xingjuan Chao sold 39,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.90, for a total transaction of $776,100.00. Following the completion of the sale, the chief executive officer owned 802,317 shares of the company’s stock, valued at approximately $15,966,108.30. This represents a 4.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Michael Taylor sold 5,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $18.41, for a total transaction of $101,255.00. Following the completion of the sale, the director owned 61,573 shares of the company’s stock, valued at approximately $1,133,558.93. The trade was a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 300,685 shares of company stock valued at $5,935,326. 17.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CeriBell

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

CeriBell Company Profile

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.