Franklin Resources Inc. Makes New $12.46 Million Investment in CeriBell (NASDAQ:CBLL)

Franklin Resources Inc. purchased a new position in shares of CeriBell (NASDAQ:CBLL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 481,446 shares of the company's stock, valued at approximately $12,460,000. Franklin Resources Inc. owned 1.34% of CeriBell at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rhumbline Advisers acquired a new position in CeriBell during the fourth quarter worth $320,000. PNC Financial Services Group Inc. acquired a new position in CeriBell in the 4th quarter valued at about $47,000. Bank of New York Mellon Corp purchased a new stake in CeriBell during the fourth quarter worth about $628,000. Emerald Advisers LLC acquired a new position in shares of CeriBell in the fourth quarter valued at approximately $3,126,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of CeriBell in the fourth quarter worth $2,500,000.

Wall Street Analyst Weigh In

CBLL has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $33.00 target price on shares of CeriBell in a report on Wednesday, February 26th. LADENBURG THALM/SH SH assumed coverage on CeriBell in a research report on Friday, April 4th. They set a "buy" rating and a $32.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $32.50.

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CeriBell Stock Down 2.3 %

NASDAQ CBLL traded down $0.34 during trading hours on Monday, hitting $14.66. 68,561 shares of the stock were exchanged, compared to its average volume of 262,952. CeriBell has a 12-month low of $10.01 and a 12-month high of $32.75. The stock has a 50-day moving average of $21.04.

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

CeriBell 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.