CeriBell (NASDAQ:CBLL) Stock Jumps 4% – Time to Buy?

CeriBell, Inc. (NASDAQ:CBLL)’s share price shot up 4% during mid-day trading on Monday. The company traded as high as $24.43 and last traded at $24.5850. Approximately 318,852 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 341,821 shares. The stock had previously closed at $23.63.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of CeriBell in a research note on Friday, September 11th. Weiss Ratings lowered CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $29.00 price objective on shares of CeriBell in a research report on Thursday, September 3rd. Barclays upgraded CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. Finally, Canaccord Genuity Group increased their price target on CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.00.

CeriBell Price Performance

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 stock has a market capitalization of $940.89 million, a price-to-earnings ratio of -13.93 and a beta of 0.94. The stock has a 50-day moving average price of $23.39 and a 200 day moving average price of $20.42.

CeriBell (NASDAQ:CBLL) last posted its quarterly earnings data 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 company had revenue of $28.10 million for the quarter, compared to analyst estimates of $27.28 million. As a group, equities research analysts expect that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insiders Place Their Bets

In other CeriBell news, VP David Foehr sold 9,255 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $24.25, for a total value of $224,433.75. Following the sale, the vice president 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 through this link. Also, CTO Raymond Woo sold 4,887 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $24.38, for a total value of $119,145.06. Following the transaction, the chief technology officer owned 203,118 shares of the company’s stock, valued at $4,952,016.84. This trade represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 174,905 shares of company stock worth $4,312,995. Insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On CeriBell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in CeriBell in the 2nd quarter valued at about $37,657,000. KCM Capital Inc grew its holdings in CeriBell by 40.0% in the first quarter. KCM Capital Inc now owns 1,400,000 shares of the company’s stock valued at $25,662,000 after purchasing an additional 400,000 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of CeriBell in the second quarter valued at about $17,437,000. TimesSquare Capital Management LLC acquired a new stake in shares of CeriBell during the second quarter valued at $15,182,000. Finally, Bank of America Corp DE grew its holdings in shares of CeriBell by 15.3% during the first quarter. Bank of America Corp DE now owns 319,837 shares of the company’s stock worth $5,863,000 after buying an additional 42,340 shares in the last quarter.

About CeriBell

CeriBell, Inc develops medical technology designed to make electroencephalography (EEG) more accessible in acute-care settings. Its primary product is the Ceribell Rapid Response EEG system, a portable, point-of-care platform that enables clinicians to record and assess brain activity at the bedside, including when evaluating patients for seizures and status epilepticus.

The Ceribell system combines a simplified EEG headband and recording device with software that supports rapid interpretation.