ClearPoint Neuro (NASDAQ:CLPT) Issues Earnings Results

ClearPoint Neuro (NASDAQ:CLPT) released its quarterly earnings results on Monday. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.09), FiscalAI reports. ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%.The firm had revenue of $10.88 million for the quarter, compared to analysts’ expectations of $12.73 million.

ClearPoint Neuro Stock Up 2.9%

NASDAQ CLPT traded up $0.44 during trading hours on Monday, hitting $15.38. 680,272 shares of the company were exchanged, compared to its average volume of 731,053. 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 market cap of $461.25 million, a price-to-earnings ratio of -15.23 and a beta of 1.23. The company has a 50 day moving average of $15.38 and a two-hundred day moving average of $13.05. ClearPoint Neuro has a 52-week low of $8.27 and a 52-week high of $30.10.

Insider Buying and Selling

In related news, Director Matthew B. Klein sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $11.59, for a total value of $185,440.00. Following the sale, the director owned 46,935 shares of the company’s stock, valued at $543,976.65. This trade represents a 25.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 116,842 shares of the company’s stock, valued at $2,078,619.18. This represents a 33.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 108,349 shares of company stock valued at $1,796,118. Corporate insiders own 6.94% of the company’s stock.

Institutional Trading of ClearPoint Neuro

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in ClearPoint Neuro during the 4th quarter worth about $25,000. BNP Paribas Financial Markets raised its position 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 acquiring an additional 2,143 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of ClearPoint Neuro during the 2nd quarter worth about $35,000. Russell Investments Group Ltd. lifted its stake in ClearPoint Neuro by 1,079.0% during the third 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in ClearPoint Neuro during the second quarter worth approximately $80,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus set a $16.00 price objective on ClearPoint Neuro in a report on Tuesday, June 9th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Friday, July 17th. Finally, B. Riley Financial lifted their target price 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 equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, ClearPoint Neuro currently has a consensus rating of “Hold” and a consensus target price 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.