CeriBell (NASDAQ:CBLL) Trading Down 9.2% – Here’s What Happened

CeriBell (NASDAQ:CBLL) was down 9.2% on Friday . The stock traded as low as $20.75 and last traded at $20.91. Approximately 77,666 shares changed hands during trading, a decline of 57% from the average daily volume of 179,863 shares. The stock had previously closed at $23.02.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen increased their target price on CeriBell from $31.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on CeriBell in a research report on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price objective for the company. Bank of America assumed coverage on CeriBell in a report on Tuesday, November 5th. They issued a “buy” rating and a $32.00 target price on the stock. Canaccord Genuity Group initiated coverage on shares of CeriBell in a report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price target for the company. Finally, William Blair started coverage on shares of CeriBell in a research report on Tuesday, November 5th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, CeriBell has a consensus rating of “Buy” and a consensus target price of $32.60.

CeriBell Stock Down 9.1 %

The stock has a 50-day moving average price of $27.05.

CeriBell (NASDAQ:CBLL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.03). The company had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.06 million. On average, equities research analysts predict that CeriBell will post -2.46 EPS for the current year.

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.