ClearPoint Neuro (NASDAQ:CLPT) Trading Down 7.5% – What’s Next?

ClearPoint Neuro, Inc. (NASDAQ:CLPTGet Free Report)’s share price fell 7.5% on Tuesday . The stock traded as low as $17.79 and last traded at $17.98. 242,137 shares were traded during trading, a decline of 68% from the average daily volume of 766,066 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

CLPT has been the subject of several recent research reports. B. Riley Financial increased their price target on ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Stifel Nicolaus set a $16.00 price objective on ClearPoint Neuro in a research note on Tuesday, June 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ClearPoint Neuro has an average rating of “Hold” and an average target price of $23.00.

View Our Latest Report on ClearPoint Neuro

ClearPoint Neuro Price Performance

The company has a quick ratio of 4.88, a current ratio of 5.79 and a debt-to-equity ratio of 2.63. The company has a market cap of $540.24 million, a PE ratio of -18.03 and a beta of 1.31. The stock has a 50-day simple moving average of $13.16 and a 200 day simple moving average of $12.70.

ClearPoint Neuro (NASDAQ:CLPTGet Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $12.13 million for the quarter, compared to analysts’ expectations of $11.97 million. ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%. Equities analysts expect that ClearPoint Neuro, Inc. will post -1.05 EPS for the current year.

Insider Activity at ClearPoint Neuro

In other ClearPoint Neuro news, CEO Joseph Burnett sold 1,843 shares of ClearPoint Neuro stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.94, for a total transaction of $33,063.42. Following the completion of the sale, the chief executive officer directly owned 191,388 shares in the company, valued at $3,433,500.72. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew B. Klein sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $11.59, for a total transaction of $185,440.00. Following the completion of the transaction, the director owned 46,935 shares in the company, valued at approximately $543,976.65. This represents a 25.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,349 shares of company stock valued at $1,408,518 in the last ninety days. Insiders own 6.94% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CLPT. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro during the fourth quarter worth $25,000. BNP Paribas Financial Markets boosted its holdings in ClearPoint Neuro by 2,435.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock valued at $27,000 after acquiring an additional 2,143 shares during the period. Legal & General Group Plc acquired a new position in ClearPoint Neuro in the 2nd quarter valued at about $35,000. Huntington National Bank acquired a new position in ClearPoint Neuro in the 3rd quarter valued at about $44,000. Finally, Russell Investments Group Ltd. grew its position in ClearPoint Neuro by 1,079.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock valued at $51,000 after acquiring an additional 2,158 shares in the last quarter. 30.08% of the stock is currently owned by institutional investors and hedge funds.

About ClearPoint Neuro

(Get Free Report)

ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.

The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.

Further Reading

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