CeriBell (NASDAQ:CBLL) Trading 5.7% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

CBLL has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped 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. 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. JPMorgan Chase & Co. initiated coverage on shares of CeriBell in a report on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price target for the company. Bank of America initiated coverage on shares of CeriBell in a report on Tuesday, November 5th. They set a “buy” rating and a $32.00 price target 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 report on Monday, December 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.60.

CeriBell Trading Up 6.8 %

The business’s 50-day simple moving average is $23.53.

Institutional Inflows and Outflows

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

About CeriBell

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.