ClearPoint Neuro (NASDAQ:CLPT) Shares Up 11.4% – Here’s Why

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) rose 11.4% on Thursday . The stock traded as high as $18.68 and last traded at $18.73. 469,036 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 743,656 shares. The stock had previously closed at $16.81.

Analyst Ratings Changes

A number of research analysts have issued reports on CLPT shares. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. B. Riley Financial lifted their price target on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus set a $16.00 price objective on shares of ClearPoint Neuro in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.00.

ClearPoint Neuro Price Performance

The firm has a market cap of $532.92 million, a price-to-earnings ratio of -17.59 and a beta of 1.31. The company has a quick ratio of 4.88, a current ratio of 5.79 and a debt-to-equity ratio of 2.63. The firm has a fifty day moving average price of $12.15 and a 200-day moving average price of $12.52.

ClearPoint Neuro (NASDAQ:CLPT) last released 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 business had revenue of $12.13 million during the quarter, compared to analyst estimates of $11.97 million. As a group, sell-side analysts forecast that ClearPoint Neuro, Inc. will post -1.05 EPS for the current year.

Insider Activity

In other news, 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 completion of the transaction, the director owned 46,935 shares of the company’s stock, valued at $543,976.65. This represents a 25.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynnette C. Fallon sold 5,091 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total transaction of $56,713.74. Following the completion of the sale, the director directly owned 48,227 shares in the company, valued at $537,248.78. This represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,506 shares of company stock valued at $308,054 in the last 90 days. 6.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ClearPoint Neuro

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ClearPoint Neuro during the 4th quarter valued at $25,000. BNP Paribas Financial Markets increased its holdings 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 worth $27,000 after buying an additional 2,143 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of ClearPoint Neuro in the 2nd quarter worth $35,000. Huntington National Bank purchased a new position in shares of ClearPoint Neuro in the 3rd quarter worth $44,000. Finally, Russell Investments Group Ltd. boosted its holdings in ClearPoint Neuro by 1,079.0% in the third 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 last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

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.