CeriBell (NASDAQ:CBLL) Hits New 1-Year Low – Should You Sell?

Shares of CeriBell (NASDAQ:CBLL) reached a new 52-week low on Tuesday . The company traded as low as $18.50 and last traded at $18.75, with a volume of 12642 shares trading hands. The stock had previously closed at $19.21.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CBLL shares. TD Cowen boosted their target price 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 reiterated a “buy” rating and issued a $33.00 price target on shares of CeriBell in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $32.60.

CeriBell Stock Performance

The business has a fifty day moving average of $22.13.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CBLL. Legal & General Group Plc purchased a new stake in shares of CeriBell in the 4th quarter worth $32,000. Summit Investment Advisors Inc. purchased a new stake in CeriBell in the fourth quarter worth about $33,000. Tower Research Capital LLC TRC purchased a new stake in CeriBell in the fourth quarter worth about $37,000. BNP Paribas Financial Markets bought a new position in shares of CeriBell in the fourth quarter worth about $43,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of CeriBell during the 4th quarter valued at approximately $47,000.

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.