ClearPoint Neuro (NASDAQ:CLPT) Stock Price Up 8.3% – Should You Buy?

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

Analyst Upgrades and Downgrades

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

ClearPoint Neuro Stock Performance

The company has a debt-to-equity ratio of 4.66, a quick ratio of 3.89 and a current ratio of 4.74. The business has a 50-day moving average price of $16.05 and a 200 day moving average price of $13.17. The stock has a market capitalization of $499.29 million, a P/E ratio of -13.87 and a beta of 1.24.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The company had revenue of $10.88 million for the quarter, compared to the consensus estimate of $12.73 million. ClearPoint Neuro had a negative net margin of 81.76% and a negative return on equity of 188.09%. During the same period last year, the business earned ($0.21) EPS. As a group, sell-side analysts forecast that ClearPoint Neuro, Inc. will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling at ClearPoint Neuro

In related news, Director Timothy T. Richards sold 5,415 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the transaction, the director owned 87,198 shares in the company, valued at $1,061,199.66. The trade was a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph Burnett sold 60,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 116,842 shares in the company, valued at $2,078,619.18. This trade represents a 33.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 87,258 shares of company stock valued at $1,553,964 over the last 90 days. Corporate insiders own 6.94% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $42,456,000. Vanguard Group Inc. raised its holdings in ClearPoint Neuro by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,497,637 shares of the company’s stock worth $32,634,000 after acquiring an additional 22,517 shares during the last quarter. Millennium Management LLC lifted its position in ClearPoint Neuro by 156.3% in the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after acquiring an additional 452,043 shares in the last quarter. State Street Corp lifted its position in ClearPoint Neuro by 30.1% in the 4th quarter. State Street Corp now owns 628,061 shares of the company’s stock valued at $8,592,000 after acquiring an additional 145,411 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in ClearPoint Neuro during the 1st quarter valued at $3,388,000. 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.