CeriBell (NASDAQ:CBLL) Shares Gap Up – Time to Buy?

Shares of CeriBell, Inc. (NASDAQ:CBLL) gapped up prior to trading on Tuesday . The stock had previously closed at $23.63, but opened at $24.42. CeriBell shares last traded at $23.9550, with a volume of 5,977 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CBLL shares. Canaccord Genuity Group raised their target price on shares of CeriBell from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Barclays upgraded CeriBell to a “neutral” rating in a research note on Tuesday, August 18th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of CeriBell in a research report on Friday. Weiss Ratings downgraded CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 28th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $29.00 target price on shares of CeriBell in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CeriBell currently has an average rating of “Moderate Buy” and an average target price of $24.40.

CeriBell Trading Down 1.1%

The business has a fifty day moving average price of $21.20 and a 200-day moving average price of $19.67. 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 $923.73 million, a P/E ratio of -13.64 and a beta of 0.95.

CeriBell (NASDAQ:CBLL) last announced its earnings results 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). The firm had revenue of $28.10 million for the quarter, compared to the consensus estimate of $27.28 million. CeriBell had a negative return on equity of 44.85% and a negative net margin of 64.73%. On average, analysts forecast that CeriBell, Inc. will post -1.96 earnings per share for the current year.

Insider Activity

In other news, CEO Xingjuan Chao sold 39,540 shares of CeriBell stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $24.61, for a total transaction of $973,079.40. Following the completion of the sale, the chief executive officer owned 767,191 shares of the company’s stock, valued at approximately $18,880,570.51. This trade represents a 4.90% 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 hyperlink. Also, VP David Foehr sold 9,255 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total transaction of $224,433.75. Following the completion of the sale, the vice president directly owned 34,144 shares of the company’s stock, valued at approximately $827,992. The trade was a 21.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 391,901 shares of company stock worth $8,542,455. Corporate insiders own 17.70% of the company’s stock.

Institutional Trading of CeriBell

Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in shares of CeriBell during the 1st quarter worth approximately $27,000. Legal & General Group Plc acquired a new stake in shares of CeriBell in the second quarter valued at approximately $53,000. Caitong International Asset Management Co. Ltd raised its position in shares of CeriBell by 8,735.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,739 shares of the company’s stock valued at $60,000 after buying an additional 2,708 shares in the last quarter. State of Wyoming bought a new stake in shares of CeriBell in the first quarter valued at approximately $62,000. Finally, Larson Financial Group LLC grew its position in CeriBell by 1,403.1% during the fourth quarter. Larson Financial Group LLC now owns 2,871 shares of the company’s stock worth $63,000 after buying an additional 2,680 shares in the last quarter.

About CeriBell

Ceribell, Inc (NASDAQ: CBLL) is a medical technology company focused on improving the detection and management of seizures and other neurological conditions in hospital settings. Its products are designed to make electroencephalography (EEG) more accessible at the point of care, particularly in emergency departments, intensive care units and other settings where conventional EEG testing may be delayed or difficult to obtain.

The company’s primary offering is the Ceribell Rapid Response EEG system, which combines a portable EEG recorder, a simplified electrode headband and software for acquiring and reviewing brain-wave data.