ClearPoint Neuro (NASDAQ:CLPT) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

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

ClearPoint Neuro Price Performance

Shares of ClearPoint Neuro stock traded up $0.13 during trading on Tuesday, hitting $11.16. The stock had a trading volume of 418,417 shares, compared to its average volume of 836,000. The company has a current ratio of 6.37, a quick ratio of 5.56 and a debt-to-equity ratio of 1.84. ClearPoint Neuro has a 12 month low of $8.63 and a 12 month high of $30.10. The firm has a market cap of $317.17 million, a price-to-earnings ratio of -13.29 and a beta of 1.02. The business’s 50-day moving average is $13.33 and its 200 day moving average is $15.66.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $16.12, for a total transaction of $322,400.00. Following the transaction, the chief executive officer directly owned 11,565 shares of the company’s stock, valued at approximately $186,427.80. This trade represents a 63.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in ClearPoint Neuro in the fourth quarter worth about $235,000. XTX Topco Ltd purchased a new position in shares of ClearPoint Neuro during the 4th quarter worth approximately $300,000. Millennium Management LLC grew its holdings in shares of ClearPoint Neuro by 174.4% during the 4th quarter. Millennium Management LLC now owns 515,375 shares of the company’s stock worth $7,050,000 after acquiring an additional 327,574 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of ClearPoint Neuro in the 4th quarter worth approximately $2,972,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of ClearPoint Neuro by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock worth $367,000 after acquiring an additional 1,204 shares in the last quarter. Institutional investors own 30.08% of the company’s stock.

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.