ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Up 29.0% in March

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 4,288,498 shares, an increase of 29.0% from the February 26th total of 3,325,107 shares. Approximately 15.4% of the shares of the stock are short sold. Based on an average trading volume of 1,485,024 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 20,000 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $16.12, for a total transaction of $322,400.00. Following the completion of the sale, the chief executive officer owned 11,565 shares in the company, valued at approximately $186,427.80. This trade represents a 63.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ClearPoint Neuro

A number of large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro during the fourth quarter worth approximately $25,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 purchasing an additional 2,143 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of ClearPoint Neuro in the third quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new position in ClearPoint Neuro in the second quarter worth approximately $32,000. Finally, Legal & General Group Plc bought a new position in ClearPoint Neuro in the second quarter worth approximately $35,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on CLPT shares. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Wednesday, January 21st. B. Riley Financial upped their price objective on ClearPoint Neuro from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ClearPoint Neuro has a consensus rating of “Hold” and a consensus target price of $14.50.

ClearPoint Neuro Price Performance

Shares of ClearPoint Neuro stock traded down $0.32 during trading hours on Friday, reaching $9.07. The company’s stock had a trading volume of 373,336 shares, compared to its average volume of 1,179,858. The firm has a 50 day moving average price of $12.34 and a 200-day moving average price of $15.55. ClearPoint Neuro has a one year low of $8.63 and a one year high of $30.10. The company has a debt-to-equity ratio of 1.75, a current ratio of 5.91 and a quick ratio of 5.13. The stock has a market cap of $269.02 million, a P/E ratio of -9.97 and a beta of 1.02.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The business had revenue of $10.41 million during the quarter, compared to the consensus estimate of $10.40 million. ClearPoint Neuro had a negative net margin of 69.08% and a negative return on equity of 122.17%. On average, analysts predict that ClearPoint Neuro will post -0.66 EPS for the current year.

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.