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

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CBLL shares. Bank of America began coverage on shares of CeriBell in a research note on Tuesday, November 5th. They set a “buy” rating and a $32.00 price objective 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 research report on Monday, December 9th. William Blair assumed coverage on CeriBell in a research report on Tuesday, November 5th. They set an “outperform” rating for the company. Canaccord Genuity Group initiated coverage on CeriBell in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target 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, According to data from MarketBeat.com, CeriBell currently has an average rating of “Buy” and an average price target of $32.60.

CeriBell Price Performance

The business’s 50 day simple moving average is $27.18.

CeriBell (NASDAQ:CBLL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.03). The company had revenue of $17.20 million for the quarter, compared to analyst estimates of $17.06 million. As a group, sell-side analysts predict that CeriBell will post -2.46 earnings per share 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.