CeriBell (NASDAQ:CBLL) Shares Gap Up – Here’s Why

CeriBell (NASDAQ:CBLL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $11.15, but opened at $12.98. CeriBell shares last traded at $14.56, with a volume of 593,673 shares.

Wall Street Analyst Weigh In

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

CeriBell Price Performance

The company’s 50 day simple moving average is $21.04.

CeriBell (NASDAQ:CBLL) last announced its quarterly earnings data 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 business had revenue of $18.53 million during the quarter, compared to analysts’ expectations of $17.55 million. On average, equities research analysts forecast that CeriBell will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On CeriBell

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in CeriBell during the fourth quarter worth $32,000. Summit Investment Advisors Inc. acquired a new stake in CeriBell in the fourth quarter valued at $33,000. Tower Research Capital LLC TRC bought a new position in shares of CeriBell in the 4th quarter valued at about $37,000. BNP Paribas Financial Markets acquired a new position in shares of CeriBell during the 4th quarter worth about $43,000. Finally, PNC Financial Services Group Inc. acquired a new stake in CeriBell in the 4th quarter valued at about $47,000.

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.