CeriBell (NASDAQ:CBLL) Stock Price Down 3.3% – Here’s Why

CeriBell (NASDAQ:CBLL) dropped 3.3% on Friday . The stock traded as low as $24.66 and last traded at $25.00. Approximately 24,940 shares traded hands during trading, a decline of 54% from the average daily volume of 54,645 shares. The stock had previously closed at $25.86.

Analysts Set New Price Targets

CBLL has been the subject of a number of research analyst reports. Bank of America began coverage on CeriBell in a report on Tuesday, November 5th. They issued a “buy” rating and a $32.00 target price for the company. Canaccord Genuity Group raised their price objective on CeriBell from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group began coverage on CeriBell in a research note on Tuesday, November 5th. They set a “buy” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of CeriBell in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of CeriBell from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.60.

CeriBell Price Performance

The company’s 50 day moving average is $27.56.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.82) by ($1.03). The firm had revenue of $17.20 million for the quarter, compared to the consensus estimate of $17.06 million. Equities analysts anticipate that CeriBell will post -2.46 earnings per share for the current year.

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.