Insider Selling: ClearPoint Neuro (NASDAQ:CLPT) CEO Sells $1,067,400.00 in Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.79, for a total value of $1,067,400.00. Following the transaction, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,078,619.18. This represents a 33.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 17th, Joseph Burnett sold 1,843 shares of ClearPoint Neuro stock. The shares were sold at an average price of $17.94, for a total value of $33,063.42.

ClearPoint Neuro Price Performance

Shares of NASDAQ:CLPT traded down $0.71 during midday trading on Monday, hitting $17.06. The company had a trading volume of 868,956 shares, compared to its average volume of 761,475. ClearPoint Neuro, Inc. has a twelve month low of $8.27 and a twelve month high of $30.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.79 and a quick ratio of 4.88. The stock has a market cap of $511.63 million, a price-to-earnings ratio of -16.89 and a beta of 1.31. The business’s 50-day simple moving average is $12.15 and its 200-day simple moving average is $12.51.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%.The company had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.97 million. On average, research analysts predict that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently 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. Huntington National Bank purchased a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at approximately $44,000. BNP Paribas Financial Markets raised its stake in shares of ClearPoint Neuro by 2,435.2% in 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 period. Russell Investments Group Ltd. lifted its holdings in shares of ClearPoint Neuro by 1,079.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock worth $51,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of ClearPoint Neuro in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds 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.