ClearPoint Neuro (NASDAQ:CLPT) CEO Sells $387,600.00 in Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 20,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.38, for a total value of $387,600.00. Following the sale, the chief executive officer owned 116,842 shares of the company’s stock, valued at $2,264,397.96. This trade represents a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Joseph Burnett also recently made the following trade(s):

• On Wednesday, June 17th, Joseph Burnett sold 1,843 shares of ClearPoint Neuro stock. The shares were sold at an average price of $17.94, for a total value of $33,063.42.
• On Wednesday, June 17th, Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock. The shares were sold at an average price of $17.79, for a total value of $1,067,400.00.

ClearPoint Neuro Price Performance

CLPT opened at $18.72 on Friday. ClearPoint Neuro, Inc. has a 1 year low of $8.27 and a 1 year high of $30.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.79 and a quick ratio of 4.88. The company has a market capitalization of $561.41 million, a price-to-earnings ratio of -18.53 and a beta of 1.23. The firm’s fifty day moving average price is $13.75 and its two-hundred day moving average price is $12.86.

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

Hedge Funds Weigh In On ClearPoint Neuro

A number of hedge funds and other institutional investors have recently made changes to their positions in CLPT. Caitong International Asset Management Co. Ltd purchased a new stake in ClearPoint Neuro during the fourth quarter worth about $25,000. Huntington National Bank purchased a new position in ClearPoint Neuro in the third quarter valued at about $44,000. BNP Paribas Financial Markets boosted its stake in ClearPoint Neuro by 2,435.2% in the second 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. Russell Investments Group Ltd. grew its position 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 acquiring an additional 2,158 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of ClearPoint Neuro during the 2nd quarter worth approximately $35,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CLPT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Monday, April 20th. B. Riley Financial upped their target price on ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a research report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, ClearPoint Neuro presently has a consensus rating of “Hold” and a consensus price target of $23.00.

About ClearPoint Neuro

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.