CeriBell (NASDAQ:CBLL) Shares Gap Down - Time to Sell?

CeriBell (NASDAQ:CBLL - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $14.88, but opened at $14.53. CeriBell shares last traded at $14.94, with a volume of 17,420 shares changing hands.

Analyst Upgrades and Downgrades

CBLL has been the subject of a number of research reports. LADENBURG THALM/SH SH began coverage on shares of CeriBell in a research report on Friday, April 4th. They set a "buy" rating and a $32.00 target price for the company. Canaccord Genuity Group reiterated a "buy" rating and set a $33.00 price objective on shares of CeriBell in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, CeriBell currently has a consensus rating of "Buy" and a consensus target price of $32.50.

CeriBell Price Performance

The business's 50-day moving average is $20.31.

CeriBell (NASDAQ:CBLL - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $17.55 million. Research analysts forecast that CeriBell will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On CeriBell

Several hedge funds have recently made changes to their positions in the company. FMR LLC purchased a new position in CeriBell during the fourth quarter valued at approximately $128,120,000. TPG GP A LLC purchased a new stake in shares of CeriBell during the fourth quarter worth $102,677,000. Red Tree Management LLC purchased a new position in CeriBell in the fourth quarter valued at about $57,083,000. Yu Fan bought a new stake in shares of CeriBell in the 4th quarter valued at approximately $31,631,000. Finally, ABG WTT Global Life Science Capital Partners GP Ltd bought a new stake in CeriBell in the fourth quarter worth $28,160,000.

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.