CeriBell (NASDAQ:CBLL) Shares Gap Down – What’s Next?

CeriBell (NASDAQ:CBLL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $14.88, but opened at $14.53. CeriBell shares last traded at $14.94, with a volume of 17,420 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. LADENBURG THALM/SH SH started coverage on CeriBell in a research report on Friday, April 4th. They issued a “buy” rating and a $32.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $33.00 price target on shares of CeriBell in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, CeriBell currently has an average rating of “Buy” and an average target price of $32.50.

CeriBell Price Performance

The business’s fifty day moving average is $20.88.

CeriBell (NASDAQ:CBLL) last posted its earnings results on Tuesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts forecast that CeriBell will post -2.46 earnings per share for the current year.

Institutional Trading of CeriBell

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