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

CeriBell (NASDAQ:CBLL) gapped up prior to trading on Monday . The stock had previously closed at $21.03, but opened at $22.09. CeriBell shares last traded at $21.27, with a volume of 7,158 shares traded.

Wall Street Analyst Weigh In

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

CeriBell Trading Up 0.1 %

The stock’s 50 day moving average is $22.56.

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

Institutional Inflows and Outflows

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