CeriBell (NASDAQ:CBLL) Sets New 52-Week Low - Here's Why

CeriBell (NASDAQ:CBLL - Get Free Report) shares hit 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH started coverage on CeriBell in a research note on Friday. They issued a "buy" rating and a $32.00 price target on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $33.00 price target on shares of CeriBell in a research report on Wednesday, February 26th. Finally, TD Cowen boosted their target price 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. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $32.50.

CeriBell Stock Performance

The business's fifty day moving average is $21.95.

CeriBell (NASDAQ:CBLL - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $17.55 million. Analysts predict that CeriBell will post -2.46 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in CeriBell in the 4th quarter valued at $320,000. Bank of New York Mellon Corp bought a new position in CeriBell during the fourth quarter valued at approximately $628,000. Charles Schwab Investment Management Inc. purchased a new position in CeriBell during the 4th quarter valued at approximately $2,500,000. PNC Financial Services Group Inc. bought a new stake in CeriBell in the 4th quarter worth approximately $47,000. Finally, Vanguard Group Inc. purchased a new stake in shares of CeriBell during the 4th quarter worth approximately $18,015,000.

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.