Compass Financial Management LLC Takes $5.28 Million Position in ClearPoint Neuro, Inc. $CLPT

Compass Financial Management LLC purchased a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 295,680 shares of the company’s stock, valued at approximately $5,275,000.

A number of other hedge funds have also bought and sold shares of CLPT. Caitong International Asset Management Co. Ltd purchased a new position in ClearPoint Neuro during the fourth quarter worth about $25,000. BNP Paribas Financial Markets boosted its position in shares of ClearPoint Neuro by 2,435.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock valued at $27,000 after acquiring an additional 2,143 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of ClearPoint Neuro during the 2nd quarter valued at about $35,000. Russell Investments Group Ltd. grew its holdings in shares of ClearPoint Neuro by 1,079.0% during the third quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock worth $51,000 after purchasing an additional 2,158 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of ClearPoint Neuro by 5,568.9% during the second quarter. Versant Capital Management Inc now owns 3,458 shares of the company’s stock worth $62,000 after purchasing an additional 3,397 shares in the last quarter. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Price Performance

CLPT opened at $15.39 on Friday. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66. The stock has a market capitalization of $469.39 million, a P/E ratio of -13.04 and a beta of 1.24. The stock has a 50-day moving average price of $15.95 and a 200-day moving average price of $13.11. ClearPoint Neuro, Inc. has a 12-month low of $8.27 and a 12-month high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last announced 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 firm had revenue of $10.88 million for the quarter, compared to analysts’ expectations 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 in the prior year, the business posted ($0.21) earnings per share. Equities analysts predict that ClearPoint Neuro, Inc. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Timothy T. Richards sold 5,415 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the completion of the sale, the director owned 87,198 shares of the company’s stock, valued at approximately $1,061,199.66. This represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Burnett sold 60,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 116,842 shares of the company’s stock, valued at $2,078,619.18. This trade represents a 33.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 87,258 shares of company stock worth $1,553,964 over the last quarter. Company insiders own 6.94% of the company’s stock.

Wall Street Analyst Weigh In

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

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.