ClearPoint Neuro (NASDAQ:CLPT) Announces Quarterly Earnings Results

ClearPoint Neuro (NASDAQ:CLPT) issued its quarterly earnings data on Tuesday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05), FiscalAI reports. ClearPoint Neuro had a negative return on equity of 114.28% and a negative net margin of 67.40%.The business had revenue of $10.41 million during the quarter, compared to the consensus estimate of $10.40 million.

ClearPoint Neuro Stock Performance

Shares of CLPT opened at $11.16 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 6.37 and a quick ratio of 5.56. ClearPoint Neuro has a one year low of $8.63 and a one year high of $30.10. The company has a 50-day simple moving average of $13.25 and a two-hundred day simple moving average of $15.67. The firm has a market capitalization of $317.20 million, a PE ratio of -13.29 and a beta of 1.02.

Insiders Place Their Bets

In other ClearPoint Neuro news, CEO Joseph Burnett sold 2,943 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $15.57, for a total transaction of $45,822.51. Following the transaction, the chief executive officer owned 214,116 shares in the company, valued at approximately $3,333,786.12. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its stake in ClearPoint Neuro by 156.3% in the first quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock worth $8,813,000 after purchasing an additional 452,043 shares during the period. FirstWave Capital Management LLC bought a new position in ClearPoint Neuro in the fourth quarter worth $4,971,000. Two Sigma Investments LP lifted its position in ClearPoint Neuro by 1,316.1% during the third quarter. Two Sigma Investments LP now owns 310,526 shares of the company’s stock valued at $6,766,000 after buying an additional 288,598 shares during the period. Balyasny Asset Management L.P. purchased a new position in ClearPoint Neuro during the fourth quarter valued at $2,972,000. Finally, UBS Group AG boosted its holdings in shares of ClearPoint Neuro by 132.1% during the 3rd quarter. UBS Group AG now owns 360,705 shares of the company’s stock valued at $7,860,000 after buying an additional 205,295 shares in the last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CLPT. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Wednesday, January 21st. B. Riley Financial cut their price target on shares of ClearPoint Neuro from $28.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ClearPoint Neuro currently has an average rating of “Hold” and an average target price of $13.50.

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.