Insider Selling: ClearPoint Neuro (NASDAQ:CLPT) Director Sells 16,000 Shares of Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) Director Matthew Klein sold 16,000 shares of ClearPoint Neuro stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $11.59, for a total transaction of $185,440.00. Following the completion of the sale, the director owned 46,935 shares of the company’s stock, valued at $543,976.65. This represents a 25.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ClearPoint Neuro Stock Up 3.3%

CLPT stock traded up $0.38 during midday trading on Tuesday, reaching $11.82. 506,316 shares of the company’s stock traded hands, compared to its average volume of 714,398. The company has a market cap of $354.48 million, a price-to-earnings ratio of -11.70 and a beta of 1.29. The firm’s fifty day moving average price is $10.55 and its 200-day moving average price is $12.71. The company has a quick ratio of 4.88, a current ratio of 5.79 and a debt-to-equity ratio of 2.63. ClearPoint Neuro, Inc. has a 52 week low of $8.27 and a 52 week high of $30.10.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. B. Riley Financial upped their price objective on shares of ClearPoint Neuro from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Stifel Nicolaus assumed coverage on shares of ClearPoint Neuro in a report on Friday, May 8th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ClearPoint Neuro presently has an average rating of “Hold” and an average target price of $18.00.

Institutional Investors Weigh In On ClearPoint Neuro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in ClearPoint Neuro by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock valued at $897,000 after purchasing an additional 1,109 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in ClearPoint Neuro by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after purchasing an additional 1,204 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in ClearPoint Neuro in the fourth quarter valued at approximately $25,000. Huntington National Bank purchased a new stake in ClearPoint Neuro in the third quarter valued at approximately $44,000. Finally, BNP Paribas Financial Markets raised 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 valued at $27,000 after purchasing an additional 2,143 shares in the last quarter. 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.