CeriBell (NASDAQ:CBLL) Trading 4.9% Higher – Time to Buy?

Shares of CeriBell (NASDAQ:CBLL) were up 4.9% on Monday . The company traded as high as $24.38 and last traded at $24.38. Approximately 81,872 shares changed hands during trading, a decline of 57% from the average daily volume of 189,637 shares. The stock had previously closed at $23.24.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $33.00 target price on shares of CeriBell in a report on Wednesday, February 26th. JPMorgan Chase & Co. initiated coverage on shares of CeriBell in a research note on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price objective for the company. Canaccord Genuity Group began coverage on shares of CeriBell in a research note on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price for the company. William Blair initiated coverage on shares of CeriBell in a report on Tuesday, November 5th. They issued an “outperform” rating on the stock. Finally, Bank of America started coverage on CeriBell in a report on Tuesday, November 5th. They set a “buy” rating and a $32.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CeriBell currently has an average rating of “Buy” and an average price target of $32.60.

CeriBell Stock Performance

The stock has a 50 day moving average of $23.27.

CeriBell (NASDAQ:CBLL) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.08). The firm had revenue of $18.53 million for the quarter, compared to analyst estimates of $17.55 million. On average, research analysts expect that CeriBell will post -2.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FMR LLC purchased a new stake in CeriBell in the fourth quarter valued at approximately $128,120,000. TPG GP A LLC acquired a new stake in CeriBell during the 4th quarter valued at approximately $102,677,000. Red Tree Management LLC acquired a new stake in CeriBell during the 4th quarter valued at approximately $57,083,000. Yu Fan purchased a new stake in shares of CeriBell in the 4th quarter valued at $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd acquired a new stake in shares of CeriBell in the fourth quarter worth $28,160,000.

CeriBell Company Profile

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.