ClearPoint Neuro (NASDAQ:CLPT) Shares Gap Up – Here’s What Happened

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) gapped up before the market opened on Wednesday . The stock had previously closed at $13.34, but opened at $18.15. ClearPoint Neuro shares last traded at $17.8280, with a volume of 3,675,063 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on CLPT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Monday, April 20th. Stifel Nicolaus set a $16.00 target price on shares of ClearPoint Neuro in a research note on Tuesday, June 9th. Finally, B. Riley Financial boosted their price target 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. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ClearPoint Neuro has a consensus rating of “Hold” and an average target price of $18.00.

ClearPoint Neuro Trading Up 33.6%

The company’s 50 day moving average price is $11.66 and its 200 day moving average price is $12.44. The company has a market cap of $534.57 million, a price-to-earnings ratio of -17.71 and a beta of 1.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 4.88 and a current ratio of 5.79.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings data 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). The business had revenue of $12.13 million during the quarter, compared to analyst estimates of $11.97 million. ClearPoint Neuro had a negative net margin of 71.57% and a negative return on equity of 140.96%. Research analysts anticipate that ClearPoint Neuro, Inc. will post -1.05 EPS for the current year.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, Director Matthew B. Klein sold 16,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $11.59, for a total value 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. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynnette C. Fallon sold 5,091 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total value of $56,713.74. Following the sale, the director owned 48,227 shares of the company’s stock, valued at approximately $537,248.78. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,506 shares of company stock worth $308,054 over the last three months. Corporate insiders own 6.94% of the company’s stock.

Hedge Funds Weigh In On ClearPoint Neuro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of ClearPoint Neuro by 37.4% in 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 period. Quantinno Capital Management LP boosted its holdings in shares of ClearPoint Neuro by 307.4% during the 1st quarter. Quantinno Capital Management LP now owns 51,947 shares of the company’s stock worth $473,000 after buying an additional 39,195 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ClearPoint Neuro by 39.6% during the 1st quarter. Bank of New York Mellon Corp now owns 143,747 shares of the company’s stock worth $1,308,000 after buying an additional 40,741 shares during the period. Hsbc Holdings PLC acquired a new position in ClearPoint Neuro in the 1st quarter valued at $129,000. Finally, SG Americas Securities LLC acquired a new position in ClearPoint Neuro in the 1st quarter valued at $3,388,000. 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.