CeriBell (NASDAQ:CBLL) Stock Price Down 9.2% – Should You Sell?

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. started coverage on CeriBell in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $32.00 price target for the company. Canaccord Genuity Group started coverage on CeriBell in a report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price target for the company. TD Cowen raised their price objective on CeriBell from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their target price on shares of CeriBell from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Bank of America assumed coverage on shares of CeriBell in a research report on Tuesday, November 5th. They issued a “buy” rating and a $32.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, CeriBell has a consensus rating of “Buy” and an average target price of $32.60.

CeriBell Stock Down 9.1 %

The business’s 50 day simple moving average is $27.05.

CeriBell (NASDAQ:CBLL) last released its earnings results on Tuesday, November 12th. The company reported ($1.85) earnings per share (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. As a group, sell-side 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.