CeriBell (NASDAQ:CBLL) Shares Down 2.6% – Time to Sell?

CeriBell (NASDAQ:CBLL)’s share price fell 2.6% on Thursday . The company traded as low as $26.28 and last traded at $26.29. 85,309 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 246,355 shares. The stock had previously closed at $26.98.

Analyst Ratings Changes

CBLL has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of CeriBell in a report on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price objective on the stock. William Blair initiated coverage on CeriBell in a report on Tuesday, November 5th. They issued an “outperform” rating for the company. TD Cowen lifted their price objective on CeriBell from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Canaccord Genuity Group upped their target price on CeriBell from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Canaccord Genuity Group assumed coverage on CeriBell in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.60.

CeriBell Stock Performance

CeriBell (NASDAQ:CBLL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.03). The business had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.06 million. As a group, sell-side analysts predict that CeriBell will post -2.46 EPS for the current fiscal year.

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.