Joseph Burnett Sells 20,000 Shares of ClearPoint Neuro (NASDAQ:CLPT) Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 20,000 shares of ClearPoint Neuro stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.38, for a total value of $387,600.00. Following the transaction, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,264,397.96. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

NASDAQ:CLPT opened at $18.72 on Friday. The business’s 50-day moving average price is $13.59 and its 200 day moving average price is $12.82. The firm has a market cap of $561.41 million, a P/E ratio of -18.53 and a beta of 1.23. ClearPoint Neuro, Inc. has a 52-week low of $8.27 and a 52-week high of $30.10. The company has a quick ratio of 4.88, a current ratio of 5.79 and a debt-to-equity ratio of 2.63.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.13 million during the quarter, compared to analyst estimates of $11.97 million. As a group, sell-side analysts predict that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Trading of ClearPoint Neuro

A number of hedge funds have recently bought and sold shares of CLPT. Caitong International Asset Management Co. Ltd acquired a new position in shares of ClearPoint Neuro in the fourth quarter worth about $25,000. BNP Paribas Financial Markets lifted its position in shares of 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 in the last quarter. Legal & General Group Plc purchased a new stake in shares of ClearPoint Neuro in the 2nd quarter valued at approximately $35,000. Huntington National Bank acquired a new position in ClearPoint Neuro in the 3rd quarter worth approximately $44,000. Finally, Russell Investments Group Ltd. boosted its stake in ClearPoint Neuro by 1,079.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock worth $51,000 after purchasing an additional 2,158 shares during the period. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.