Insider Selling: Hyperfine (NASDAQ:HYPR) CFO Sells 24,188 Shares of Stock

Hyperfine, Inc. (NASDAQ:HYPR) CFO Brett Hale sold 24,188 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $1.21, for a total transaction of $29,267.48. Following the transaction, the chief financial officer directly owned 275,812 shares of the company’s stock, valued at approximately $333,732.52. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hyperfine Stock Up 1.7%

Shares of Hyperfine stock traded up $0.02 during trading on Wednesday, reaching $1.17. 352,549 shares of the stock were exchanged, compared to its average volume of 502,890. The firm has a market cap of $113.69 million, a price-to-earnings ratio of -2.66 and a beta of 1.09. Hyperfine, Inc. has a 1 year low of $0.53 and a 1 year high of $2.22. The stock’s fifty day moving average is $1.16 and its 200 day moving average is $1.20.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $5.29 million for the quarter, compared to the consensus estimate of $5.30 million. Hyperfine had a negative return on equity of 95.09% and a negative net margin of 262.29%. Equities analysts forecast that Hyperfine, Inc. will post -0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HYPR shares. Lake Street Capital upped their target price on Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a report on Thursday, March 19th. Zacks Research upgraded shares of Hyperfine to a “hold” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hyperfine has a consensus rating of “Hold” and a consensus price target of $1.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Hyperfine by 5.7% during the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after purchasing an additional 190,136 shares in the last quarter. Catalio Capital Management LP lifted its position in Hyperfine by 92.8% during the fourth quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company’s stock valued at $1,293,000 after buying an additional 635,500 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hyperfine by 21.4% during the 4th quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock valued at $799,000 after buying an additional 143,975 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Hyperfine by 674.4% in the 4th quarter. Renaissance Technologies LLC now owns 364,743 shares of the company’s stock worth $357,000 after buying an additional 317,645 shares during the period. Finally, State Street Corp grew its position in shares of Hyperfine by 6.1% in the 4th quarter. State Street Corp now owns 265,195 shares of the company’s stock worth $260,000 after buying an additional 15,200 shares during the period. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.