CeriBell (NASDAQ:CBLL) Shares Down 2.9% on Insider Selling

CeriBell (NASDAQ:CBLL - Get Free Report)'s stock price dropped 2.9% on Tuesday after an insider sold shares in the company. The stock traded as low as $14.52 and last traded at $14.50. Approximately 15,279 shares traded hands during trading, a decline of 94% from the average daily volume of 267,340 shares. The stock had previously closed at $14.93.

Specifically, CEO Xingjuan Chao sold 5,700 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $15.02, for a total value of $85,614.00. Following the sale, the chief executive officer now directly owns 746,451 shares of the company's stock, valued at approximately $11,211,694.02. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Xingjuan Chao sold 3,372 shares of CeriBell stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $15.03, for a total transaction of $50,681.16. Following the transaction, the chief executive officer now directly owns 743,079 shares in the company, valued at approximately $11,168,477.37. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CBLL shares. Canaccord Genuity Group restated a "buy" rating and issued a $33.00 target price on shares of CeriBell in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH assumed coverage on shares of CeriBell in a report on Friday, April 4th. They set a "buy" rating and a $32.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $32.50.

CeriBell Price Performance

The business has a 50-day moving average price of $20.16.

CeriBell (NASDAQ:CBLL - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $17.55 million. Equities research analysts anticipate that CeriBell will post -2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On CeriBell

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of CeriBell during the fourth quarter worth about $32,000. Summit Investment Advisors Inc. bought a new position in shares of CeriBell during the fourth quarter worth approximately $33,000. Tower Research Capital LLC TRC bought a new stake in CeriBell during the fourth quarter worth about $37,000. BNP Paribas Financial Markets acquired a new position in shares of CeriBell during the 4th quarter worth $43,000. Finally, PNC Financial Services Group Inc. bought a new position in CeriBell in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.