CeriBell (NASDAQ:CBLL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of CeriBell, Inc. (NASDAQ:CBLL) saw unusually-strong trading volume on Tuesday . Approximately 690,708 shares traded hands during trading, an increase of 109% from the previous session’s volume of 330,413 shares.The stock last traded at $20.7650 and had previously closed at $19.30.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CBLL shares. Canaccord Genuity Group increased their target price on shares of CeriBell from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research restated a “buy” rating and issued a $28.00 price objective on shares of CeriBell in a research report on Tuesday. Finally, Weiss Ratings lowered CeriBell from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

CeriBell Stock Performance

The stock has a 50-day moving average of $18.74 and a 200-day moving average of $19.07. The firm has a market cap of $879.29 million, a price-to-earnings ratio of -13.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.01 and a current ratio of 10.44.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $27.28 million. As a group, analysts anticipate that CeriBell, Inc. will post -1.69 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Tpg Gp A, Llc sold 202,368 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $20.12, for a total transaction of $4,071,644.16. Following the completion of the transaction, the insider directly owned 3,765,054 shares in the company, valued at $75,752,886.48. This represents a 5.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William W. Burke sold 2,207 shares of CeriBell stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $19.84, for a total value of $43,786.88. Following the completion of the sale, the director directly owned 23,022 shares in the company, valued at approximately $456,756.48. This represents a 8.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 300,685 shares of company stock worth $5,935,326. 17.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CeriBell

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of CeriBell during the 2nd quarter worth about $37,657,000. Bank of New York Mellon Corp lifted 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 last quarter. KCM Capital Inc acquired a new stake in CeriBell in the 4th quarter valued at about $21,930,000. TimesSquare Capital Management LLC bought a new position in CeriBell during the second quarter worth about $15,182,000. Finally, Royce & Associates LP bought a new position in CeriBell during the fourth quarter worth about $11,695,000.

About CeriBell

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.