ClearPoint Neuro (NASDAQ:CLPT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of ClearPoint Neuro (NASDAQ:CLPT) from a sell rating to a strong sell rating in a report published on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus set a $22.00 price target on ClearPoint Neuro in a report on Tuesday. Lake Street Capital set a $25.00 target price on ClearPoint Neuro in a report on Tuesday. B. Riley Financial lifted their price target on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.67.

ClearPoint Neuro Stock Performance

NASDAQ:CLPT opened at $14.21 on Friday. The company has a quick ratio of 4.88, a current ratio of 4.74 and a debt-to-equity ratio of 4.66. ClearPoint Neuro has a fifty-two week low of $8.27 and a fifty-two week high of $30.10. The stock has a market cap of $433.40 million, a PE ratio of -12.04 and a beta of 1.24. The firm’s fifty day simple moving average is $15.57 and its 200-day simple moving average is $13.03.

ClearPoint Neuro (NASDAQ:CLPT) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.09). ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.The company had revenue of $10.88 million for the quarter, compared to analyst estimates of $12.73 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Analysts expect that ClearPoint Neuro will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In other ClearPoint Neuro news, Director Timothy T. Richards sold 5,415 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the transaction, the director directly owned 87,198 shares in the company, valued at approximately $1,061,199.66. This represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.79, for a total transaction of $1,067,400.00. Following the sale, the chief executive officer owned 116,842 shares of the company’s stock, valued at approximately $2,078,619.18. This trade represents a 33.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 108,349 shares of company stock worth $1,796,118. Company insiders own 6.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro during the 4th quarter worth $25,000. BNP Paribas Financial Markets increased its stake in shares of ClearPoint Neuro by 2,435.2% during 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 position in shares of ClearPoint Neuro during the 2nd quarter worth about $35,000. Russell Investments Group Ltd. lifted 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 worth $51,000 after acquiring an additional 2,158 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of ClearPoint Neuro by 5,568.9% in the second quarter. Versant Capital Management Inc now owns 3,458 shares of the company’s stock worth $62,000 after acquiring an additional 3,397 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors and hedge funds.

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.