ClearPoint Neuro (NASDAQ:CLPT) Trading Up 8.3% – Here’s Why

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price was up 8.3% on Tuesday . The company traded as high as $16.19 and last traded at $16.4340. 179,361 shares changed hands during trading, a decline of 75% from the average session volume of 719,603 shares. The stock had previously closed at $15.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CLPT shares. B. Riley Financial lifted their target price on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Friday, July 17th. Wall Street Zen cut ClearPoint Neuro from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Lake Street Capital set a $25.00 price target on ClearPoint Neuro in a report on Tuesday, August 4th. Finally, Stifel Nicolaus set a $22.00 price objective on shares of ClearPoint Neuro in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, ClearPoint Neuro currently has a consensus rating of “Hold” and a consensus target price of $25.67.

ClearPoint Neuro Stock Performance

The business’s fifty day moving average is $15.99 and its 200-day moving average is $13.12. The company has a quick ratio of 3.89, a current ratio of 4.74 and a debt-to-equity ratio of 4.66. The company has a market cap of $522.37 million, a PE ratio of -14.48 and a beta of 1.24.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.09). The company had revenue of $10.88 million during the quarter, compared to the consensus estimate of $12.73 million. ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.During the same period last year, the business earned ($0.21) EPS. As a group, research analysts predict that ClearPoint Neuro, Inc. will post -1.29 EPS for the current fiscal year.

Insider Activity at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.79, for a total transaction of $1,067,400.00. Following the transaction, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,078,619.18. The trade was a 33.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy T. Richards sold 5,415 shares of ClearPoint Neuro stock in a transaction on Monday, June 1st. The shares were sold at an average price of $12.17, for a total transaction of $65,900.55. Following the transaction, the director owned 87,198 shares in the company, valued at approximately $1,061,199.66. This trade represents a 5.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 87,258 shares of company stock worth $1,553,964 in the last ninety days. Insiders own 6.94% of the company’s stock.

Hedge Funds Weigh In On ClearPoint Neuro

Several large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro in the fourth quarter worth $25,000. BNP Paribas Financial Markets increased its holdings in ClearPoint Neuro by 2,435.2% in 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 last quarter. Legal & General Group Plc purchased a new stake in ClearPoint Neuro in the 2nd quarter worth $35,000. Russell Investments Group Ltd. boosted its holdings in shares of ClearPoint Neuro by 1,079.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock valued at $51,000 after purchasing an additional 2,158 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of ClearPoint Neuro by 5,568.9% during the 2nd quarter. Versant Capital Management Inc now owns 3,458 shares of the company’s stock valued at $62,000 after purchasing an additional 3,397 shares during the last quarter. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

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.