Insider Selling: CeriBell (NASDAQ:CBLL) CRO Sells $32,691.22 in Stock

CeriBell, Inc. (NASDAQ:CBLL) CRO Joseph Manni sold 1,361 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $24.02, for a total transaction of $32,691.22. Following the sale, the executive owned 55,956 shares in the company, valued at approximately $1,344,063.12. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

CeriBell Stock Performance

NASDAQ:CBLL opened at $23.37 on Friday. CeriBell, Inc. has a 52 week low of $10.85 and a 52 week high of $25.33. The company has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $19.32. The company has a quick ratio of 8.79, a current ratio of 9.18 and a debt-to-equity ratio of 0.16. The company has a market cap of $896.94 million, a price-to-earnings ratio of -13.28 and a beta of 0.81.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.04). The company had revenue of $28.10 million during the quarter, compared to analyst estimates of $27.28 million. CeriBell had a negative net margin of 64.73% and a negative return on equity of 44.85%. As a group, equities analysts anticipate that CeriBell, Inc. will post -1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CeriBell

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 374,179 shares in the last quarter. Rhumbline Advisers grew its position in shares of CeriBell by 109.9% in the 2nd 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 raised its stake in 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 in the last quarter. Quantbot Technologies LP lifted its position in CeriBell by 70.3% in the second 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. purchased a new stake in CeriBell in the second quarter valued at $197,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BTIG Research increased their price target on CeriBell from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Barclays upgraded shares of CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. Canaccord Genuity Group lifted their price target on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of CeriBell from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CeriBell has an average rating of “Moderate Buy” and an average target price of $22.40.

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.