CeriBell (NASDAQ:CBLL) Shares Down 2.6% - Here's Why

Shares of CeriBell (NASDAQ:CBLL - Get Free Report) dropped 2.6% during trading on Thursday . The company traded as low as $26.28 and last traded at $26.29. Approximately 85,309 shares traded hands during trading, a decline of 65% from the average daily volume of 246,355 shares. The stock had previously closed at $26.98.

Analyst Ratings Changes

Several analysts have recently weighed in on CBLL shares. Canaccord Genuity Group started coverage on shares of CeriBell in a research note on Tuesday, November 5th. They issued a "buy" rating and a $30.00 price target for the company. JPMorgan Chase & Co. began coverage on CeriBell in a research note on Tuesday, November 5th. They set an "overweight" rating and a $32.00 target price for the company. William Blair assumed coverage on CeriBell in a research note on Tuesday, November 5th. They issued an "outperform" rating on the stock. TD Cowen increased their price target on CeriBell from $31.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of CeriBell from $31.00 to $33.00 and gave the company a "buy" rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $32.60.

CeriBell Stock Down 1.9 %

CeriBell (NASDAQ:CBLL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($1.03). The business had revenue of $17.20 million for the quarter, compared to the consensus estimate of $17.06 million. As a group, equities analysts expect 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.