Insider Selling: ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Sells 21,247 Shares of Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 21,247 shares of ClearPoint Neuro stock in a transaction on Monday, June 9th. The stock was sold at an average price of $13.29, for a total transaction of $282,372.63. Following the completion of the transaction, the chief executive officer now directly owns 243,522 shares of the company’s stock, valued at approximately $3,236,407.38. This represents a 8.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ClearPoint Neuro Stock Performance

CLPT stock opened at $12.85 on Thursday. ClearPoint Neuro, Inc. has a 1 year low of $5.11 and a 1 year high of $19.22. The stock has a market capitalization of $359.66 million, a price-to-earnings ratio of -18.62 and a beta of 0.93. The stock’s fifty day moving average is $12.77 and its two-hundred day moving average is $14.30.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). The firm had revenue of $8.49 million during the quarter, compared to analyst estimates of $8.21 million. ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. As a group, analysts predict that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of ClearPoint Neuro

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of ClearPoint Neuro by 156.3% in the first quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock worth $8,813,000 after purchasing an additional 452,043 shares in the last quarter. Invesco Ltd. acquired a new stake in ClearPoint Neuro in the fourth quarter worth about $3,814,000. Goldman Sachs Group Inc. grew its position in ClearPoint Neuro by 98.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company’s stock valued at $3,066,000 after buying an additional 127,823 shares in the last quarter. Jane Street Group LLC increased its stake in ClearPoint Neuro by 119.6% during the 4th quarter. Jane Street Group LLC now owns 222,307 shares of the company’s stock valued at $3,419,000 after buying an additional 121,083 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of ClearPoint Neuro during the 4th quarter worth about $1,633,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CLPT. Wall Street Zen lowered shares of ClearPoint Neuro from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Stifel Nicolaus increased their price target on ClearPoint Neuro from $19.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.