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

ClearPoint Neuro, Inc. (NASDAQ:CLPT) shares traded down 7.5% during trading on Tuesday . The company traded as low as $17.79 and last traded at $17.98. 242,137 shares changed hands 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

Several brokerages recently weighed in on CLPT. B. Riley Financial boosted 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. Stifel Nicolaus set a $16.00 price target on shares of ClearPoint Neuro in a research note on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ClearPoint Neuro currently has an average rating of “Hold” and a consensus target price of $23.00.

ClearPoint Neuro Trading Up 4.9%

The company has a market cap of $561.41 million, a PE ratio of -18.53 and a beta of 1.23. The business has a 50 day simple moving average of $13.43 and a two-hundred day simple moving average of $12.78. The company has a current ratio of 5.79, a quick ratio of 4.88 and a debt-to-equity ratio of 2.63.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $12.13 million during the quarter, compared to analysts’ expectations of $11.97 million. ClearPoint Neuro had a negative net margin of 71.57% and a negative return on equity of 140.96%. On average, analysts forecast that ClearPoint Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other ClearPoint Neuro news, Director Lynnette C. Fallon sold 5,091 shares of ClearPoint Neuro stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total value of $56,713.74. Following the completion of the sale, the director owned 48,227 shares in the company, valued at $537,248.78. The trade was a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew B. Klein sold 16,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $11.59, for a total transaction of $185,440.00. Following the transaction, the director directly owned 46,935 shares of the company’s stock, valued at approximately $543,976.65. This represents a 25.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,349 shares of company stock valued at $1,796,118 in the last quarter. Corporate insiders own 6.94% of the company’s stock.

Institutional Investors Weigh In On ClearPoint Neuro

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of ClearPoint Neuro by 156.3% in the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after purchasing an additional 452,043 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 buying an additional 127,823 shares during the period. JPMorgan Chase & Co. boosted its holdings in ClearPoint Neuro by 35.4% in the second quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company’s stock valued at $392,000 after acquiring an additional 8,581 shares during the last quarter. Legal & General Group Plc acquired a new position in ClearPoint Neuro in the second quarter valued at $35,000. Finally, Rhumbline Advisers purchased a new stake in ClearPoint Neuro during the second quarter valued at about $450,000. 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.