CeriBell (NASDAQ:CBLL) Trading Down 5.7% – Time to Sell?

CeriBell (NASDAQ:CBLL) shares traded down 5.7% on Wednesday . The stock traded as low as $22.14 and last traded at $21.92. 33,489 shares were traded during trading, a decline of 83% from the average session volume of 201,986 shares. The stock had previously closed at $23.23.

Wall Street Analysts Forecast Growth

CBLL has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $33.00 target price on shares of CeriBell in a research report on Wednesday, February 26th. TD Cowen upped their price objective on shares of CeriBell from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.60.

CeriBell Trading Down 7.0 %

The firm’s 50-day moving average is $22.80.

CeriBell (NASDAQ:CBLL) last announced its earnings results on Tuesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). The company had revenue of $18.53 million for the quarter, compared to analysts’ expectations of $17.55 million. On average, equities analysts anticipate that CeriBell will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CeriBell

Several large investors have recently made changes to their positions in CBLL. FMR LLC bought a new position in CeriBell in the 4th quarter worth approximately $128,120,000. TPG GP A LLC bought a new position in CeriBell during the fourth quarter worth $102,677,000. Red Tree Management LLC acquired a new position in CeriBell during the 4th quarter valued at $57,083,000. Yu Fan acquired a new position in CeriBell during the 4th quarter valued at $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd acquired a new stake in CeriBell in the 4th quarter worth $28,160,000.

About CeriBell

We are a commercial-stage medical technology company focused on transforming the diagnosis and management of patients with serious neurological conditions. We have developed the Ceribell System, a novel, point-of-care electroencephalography (“EEG”) platform specifically designed to address the unmet needs of patients in the acute care setting.