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

CeriBell (NASDAQ:CBLL) shot 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 mid-day trading, a decline of 45% from the average session volume of 166,898 shares. The stock had previously closed at $23.11.

Wall Street Analyst Weigh In

CBLL has been the topic of a number of research analyst reports. TD Cowen boosted their price objective 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. Canaccord Genuity Group initiated coverage on shares of CeriBell in a research report on Tuesday, November 5th. They set a “buy” rating and a $30.00 price objective on the stock. William Blair initiated coverage on shares of CeriBell in a research report on Tuesday, November 5th. They set an “outperform” rating on the stock. Canaccord Genuity Group boosted their price objective on shares of CeriBell from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of CeriBell in a research report on Tuesday, November 5th. They set an “overweight” rating and a $32.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.60.

CeriBell Stock Performance

The firm has a 50-day moving average price of $23.62.

Hedge Funds Weigh In On CeriBell

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