CeriBell, Inc. (NASDAQ:CBLL) Sees Large Drop in Short Interest

CeriBell, Inc. (NASDAQ:CBLL) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 1,659,720 shares, a drop of 13.8% from the February 26th total of 1,925,021 shares. Based on an average daily volume of 318,243 shares, the short-interest ratio is presently 5.2 days. Currently, 5.5% of the company’s stock are sold short.

Insiders Place Their Bets

In other CeriBell news, CTO Raymond Woo sold 8,087 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $18.25, for a total transaction of $147,587.75. Following the completion of the sale, the chief technology officer owned 166,912 shares in the company, valued at approximately $3,046,144. The trade was a 4.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Xingjuan Chao sold 39,000 shares of the company’s 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 transaction, the chief executive officer owned 711,164 shares in the company, valued at approximately $12,409,811.80. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 203,627 shares of company stock worth $4,156,660 in the last quarter. Insiders own 20.10% of the company’s stock.

Hedge Funds Weigh In On CeriBell

Several institutional investors have recently modified their holdings of CBLL. Vanguard Group Inc. lifted its holdings in CeriBell by 11.1% during the third quarter. Vanguard Group Inc. now owns 1,473,856 shares of the company’s stock worth $16,935,000 after acquiring an additional 147,013 shares during the period. Yu Fan boosted its position in CeriBell by 10.7% in the second quarter. Yu Fan now owns 1,353,166 shares of the company’s stock worth $25,345,000 after purchasing an additional 130,964 shares during the last quarter. Bank of New York Mellon Corp grew its stake in CeriBell by 1,945.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,221,927 shares of the company’s stock valued at $26,797,000 after purchasing an additional 1,162,200 shares during the period. KCM Capital Inc purchased a new stake in shares of CeriBell during the 4th quarter valued at $21,930,000. Finally, Novo Holdings A S increased its position in shares of CeriBell by 2.3% during 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 during the last quarter.

Wall Street Analysts Forecast Growth

CBLL has been the topic of a number of analyst reports. Canaccord Genuity Group upped their target price on shares of CeriBell from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. BTIG Research reissued a “buy” rating and set a $30.00 price objective on shares of CeriBell in a report on Wednesday, January 28th. Finally, TD Cowen reissued a “buy” rating on shares of CeriBell in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

CeriBell Stock Up 2.0%

Shares of NASDAQ CBLL traded up $0.38 during trading on Wednesday, hitting $18.71. The stock had a trading volume of 61,137 shares, compared to its average volume of 330,445. The firm has a fifty day moving average of $19.54 and a two-hundred day moving average of $17.35. The company has a market capitalization of $704.06 million, a PE ratio of -12.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.73 and a quick ratio of 9.35. CeriBell has a 12 month low of $10.01 and a 12 month high of $24.33.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. CeriBell had a negative net margin of 59.97% and a negative return on equity of 31.77%. The company had revenue of $24.78 million for the quarter, compared to analyst estimates of $23.95 million. As a group, equities research analysts forecast that CeriBell will post -2.46 EPS for the current fiscal year.

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.