CeriBell (NASDAQ:CBLL) Shares Up 5.7% – Here’s Why

CeriBell (NASDAQ:CBLL) traded up 5.7% during trading on Friday . The stock traded as high as $24.35 and last traded at $24.42. 92,156 shares changed hands during trading, a decline of 45% from the average session volume of 166,898 shares. The stock had previously closed at $23.11.

Analysts Set New Price Targets

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

CeriBell Stock Performance

The business has a fifty day moving average of $23.62.

Institutional Investors Weigh In On CeriBell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Woodline Partners LP purchased a new stake in CeriBell in the 4th quarter worth approximately $2,588,000. Yu Fan purchased a new stake in CeriBell during the 4th quarter valued at approximately $31,631,000. TPG GP A LLC purchased a new stake in CeriBell during the 4th quarter valued at approximately $102,677,000. RTW Investments LP purchased a new stake in CeriBell during the 4th quarter valued at approximately $3,882,000. Finally, Red Tree Management LLC purchased a new stake in CeriBell during the 4th quarter valued at approximately $57,083,000.

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.