ClearPoint Neuro (NASDAQ:CLPT) Stock Price Up 8.3% – Here’s Why

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price rose 8.3% during trading on Tuesday . The company traded as high as $16.19 and last traded at $16.4340. Approximately 179,361 shares traded hands during trading, a decline of 75% from the average session volume of 719,603 shares. The stock had previously closed at $15.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CLPT shares. Wall Street Zen downgraded shares of ClearPoint Neuro from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Stifel Nicolaus set a $22.00 target price on shares of ClearPoint Neuro in a research report on Tuesday, August 4th. Lake Street Capital set a $25.00 price target on shares of ClearPoint Neuro in a report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Friday, July 17th. Finally, B. Riley Financial boosted their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.67.

ClearPoint Neuro Price Performance

The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66. The company has a market capitalization of $522.37 million, a PE ratio of -14.48 and a beta of 1.24. The stock’s 50-day moving average is $15.99 and its two-hundred day moving average is $13.12.

ClearPoint Neuro (NASDAQ:CLPT) last announced its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). ClearPoint Neuro had a negative net margin of 81.76% and a negative return on equity of 188.09%. The business had revenue of $10.88 million for the quarter, compared to analysts’ expectations of $12.73 million. During the same quarter last year, the firm earned ($0.21) EPS. On average, equities analysts predict that ClearPoint Neuro, Inc. will post -1.29 EPS for the current year.

Insider Buying and Selling at ClearPoint Neuro

In other news, CEO Joseph Burnett sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.79, for a total transaction of $1,067,400.00. Following the completion of the sale, the chief executive officer directly owned 116,842 shares of the company’s stock, valued at approximately $2,078,619.18. The trade was a 33.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy T. Richards sold 5,415 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $12.17, for a total transaction of $65,900.55. Following the completion of the transaction, the director owned 87,198 shares in the company, valued at approximately $1,061,199.66. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 87,258 shares of company stock worth $1,553,964 in the last ninety days. 6.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ClearPoint Neuro

Several large investors have recently added to or reduced their stakes in CLPT. Commonwealth Equity Services LLC grew its stake in ClearPoint Neuro by 1.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock worth $897,000 after acquiring an additional 1,109 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of ClearPoint Neuro by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after acquiring an additional 1,204 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ClearPoint Neuro in the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets grew its stake in ClearPoint Neuro by 2,435.2% in the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after purchasing an additional 2,143 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in ClearPoint Neuro by 1,079.0% during 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.

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.