Insider Selling: ClearPoint Neuro (NASDAQ:CLPT) Director Sells 5,415 Shares of Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) Director Timothy Richards sold 5,415 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $12.17, for a total value of $65,900.55. Following the completion of the sale, the director directly owned 87,198 shares in the company, valued at $1,061,199.66. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ClearPoint Neuro Stock Down 2.2%

ClearPoint Neuro stock traded down $0.28 during trading hours on Tuesday, hitting $12.36. 517,115 shares of the stock traded hands, compared to its average volume of 607,316. The firm’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $12.54. The company has a current ratio of 5.79, a quick ratio of 4.88 and a debt-to-equity ratio of 2.63. The company has a market cap of $370.68 million, a PE ratio of -12.31 and a beta of 1.31. ClearPoint Neuro, Inc. has a one year low of $8.27 and a one year high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $12.13 million for the quarter, compared to the consensus estimate of $11.97 million. ClearPoint Neuro had a negative net margin of 71.57% and a negative return on equity of 140.96%. On average, research analysts forecast that ClearPoint Neuro, Inc. will post -1.05 EPS for the current year.

Hedge Funds Weigh In On ClearPoint Neuro

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of ClearPoint Neuro by 37.4% during the first quarter. Bank of America Corp DE now owns 66,075 shares of the company’s stock valued at $601,000 after purchasing an additional 17,990 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of ClearPoint Neuro by 307.4% during the first quarter. Quantinno Capital Management LP now owns 51,947 shares of the company’s stock valued at $473,000 after purchasing an additional 39,195 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ClearPoint Neuro by 39.6% during the first quarter. Bank of New York Mellon Corp now owns 143,747 shares of the company’s stock valued at $1,308,000 after purchasing an additional 40,741 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of ClearPoint Neuro during the first quarter valued at approximately $129,000. Finally, SG Americas Securities LLC purchased a new position in shares of ClearPoint Neuro during the first quarter valued at approximately $3,388,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CLPT. Stifel Nicolaus began coverage on ClearPoint Neuro in a research report on Friday, May 8th. They set a “buy” rating and a $16.00 price objective on the stock. B. Riley Financial lifted their price objective on ClearPoint Neuro from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, ClearPoint Neuro has a consensus rating of “Hold” and an average target price of $18.00.

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.