ClearPoint Neuro (NASDAQ:CLPT) Announces Earnings Results

ClearPoint Neuro (NASDAQ:CLPT) announced its earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05), FiscalAI reports. ClearPoint Neuro had a negative net margin of 67.40% and a negative return on equity of 114.28%. The business had revenue of $10.41 million for the quarter, compared to the consensus estimate of $10.40 million.

ClearPoint Neuro Stock Up 1.2%

NASDAQ CLPT traded up $0.13 during mid-day trading on Tuesday, reaching $11.16. The stock had a trading volume of 418,417 shares, compared to its average volume of 836,000. The stock has a market cap of $317.17 million, a PE ratio of -13.29 and a beta of 1.02. ClearPoint Neuro has a 1 year low of $8.63 and a 1 year high of $30.10. The company has a debt-to-equity ratio of 1.84, a current ratio of 6.37 and a quick ratio of 5.56. The company has a fifty day moving average price of $13.33 and a 200 day moving average price of $15.66.

Insider Activity at ClearPoint Neuro

In other ClearPoint Neuro news, CEO Joseph Burnett sold 2,943 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $15.57, for a total transaction of $45,822.51. Following the transaction, the chief executive officer owned 214,116 shares in the company, valued at approximately $3,333,786.12. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CLPT. Millennium Management LLC boosted its stake in shares of ClearPoint Neuro by 156.3% during the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock worth $8,813,000 after acquiring an additional 452,043 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ClearPoint Neuro by 98.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company’s stock worth $3,066,000 after purchasing an additional 127,823 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ClearPoint Neuro by 35.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company’s stock worth $392,000 after purchasing an additional 8,581 shares in the last quarter. Legal & General Group Plc bought a new position in ClearPoint Neuro in the 2nd quarter worth $35,000. Finally, Rhumbline Advisers bought a new position in ClearPoint Neuro in the 2nd quarter worth $450,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLPT has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. B. Riley Financial lowered their price objective on ClearPoint Neuro from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.50.

ClearPoint Neuro Company Profile

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.