ClearPoint Neuro (NASDAQ:CLPT) CEO Joseph Burnett Sells 20,000 Shares

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 20,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.38, for a total value of $387,600.00. Following the completion of the sale, the chief executive officer directly owned 116,842 shares in the company, valued at approximately $2,264,397.96. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Joseph Burnett also recently made the following trade(s):

• On Wednesday, June 17th, Joseph Burnett sold 1,843 shares of ClearPoint Neuro stock. The stock was sold at an average price of $17.94, for a total value of $33,063.42.
• On Wednesday, June 17th, Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock. The stock was sold at an average price of $17.79, for a total transaction of $1,067,400.00.

ClearPoint Neuro Stock Performance

Shares of CLPT stock opened at $18.72 on Thursday. ClearPoint Neuro, Inc. has a one year low of $8.27 and a one year high of $30.10. The company’s 50-day moving average is $13.43 and its 200 day moving average is $12.78. The company has a market capitalization of $561.41 million, a price-to-earnings ratio of -18.53 and a beta of 1.23. 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 issued its earnings results 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 firm had revenue of $12.13 million during the quarter, compared to the consensus estimate of $11.97 million. ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%. Sell-side analysts expect that ClearPoint Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Institutional Trading of ClearPoint Neuro

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of ClearPoint Neuro by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,497,637 shares of the company’s stock valued at $32,634,000 after acquiring an additional 22,517 shares during the period. Millennium Management LLC lifted its position in shares of ClearPoint Neuro by 156.3% during the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after buying an additional 452,043 shares in the last quarter. State Street Corp grew its stake in shares of ClearPoint Neuro by 30.1% during 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 during the period. SG Americas Securities LLC bought a new position in shares of ClearPoint Neuro during the 1st quarter valued at approximately $3,388,000. Finally, FirstWave Capital Management LLC purchased a new stake in ClearPoint Neuro in the 4th quarter worth approximately $4,971,000. 30.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLPT. Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a report on Tuesday, June 9th. B. Riley Financial lifted their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ClearPoint Neuro has a consensus rating of “Hold” and an average price target of $23.00.

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.