Insider Selling: ClearPoint Neuro (NASDAQ:CLPT) CEO Sells $387,600.00 in Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,264,397.96. This represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $17.79, for a total value of $1,067,400.00.

ClearPoint Neuro Stock Performance

NASDAQ CLPT traded up $0.88 during mid-day trading on Wednesday, reaching $18.72. 511,344 shares of the stock were exchanged, compared to its average volume of 771,546. ClearPoint Neuro, Inc. has a 1 year low of $8.27 and a 1 year high of $30.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 4.88 and a current ratio of 5.79. The business’s 50 day moving average is $13.28 and its 200-day moving average is $12.74. The company has a market capitalization of $561.41 million, a P/E ratio of -18.53 and a beta of 1.31.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS 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 analysts’ expectations of $11.97 million. On average, equities research analysts forecast that ClearPoint Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Boone Capital Management LLC acquired a new stake in ClearPoint Neuro during the 3rd quarter worth approximately $6,186,000. SG Americas Securities LLC purchased a new position in ClearPoint Neuro in the 1st quarter valued at approximately $3,388,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of ClearPoint Neuro in the fourth quarter worth $2,470,000. AXQ Capital LP purchased a new stake in shares of ClearPoint Neuro during the fourth quarter worth $240,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of ClearPoint Neuro during the third quarter worth $159,000. Institutional investors and hedge funds 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.