Timothy Richards Sells 5,415 Shares of ClearPoint Neuro (NASDAQ:CLPT) Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) Director Timothy Richards sold 5,415 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $12.17, for a total transaction of $65,900.55. Following the completion of the transaction, the director owned 87,198 shares of the company’s stock, valued at $1,061,199.66. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ClearPoint Neuro Stock Up 7.5%

Shares of NASDAQ:CLPT opened at $13.30 on Thursday. ClearPoint Neuro, Inc. has a 52-week low of $8.27 and a 52-week high of $30.10. The firm has a fifty day moving average of $10.88 and a 200 day moving average of $12.49. The firm has a market capitalization of $398.87 million, a PE ratio of -13.17 and a beta of 1.31. 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 announced 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). 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 during the quarter, compared to analysts’ expectations of $11.97 million. As a group, research analysts anticipate that ClearPoint Neuro, Inc. will post -1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLPT has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Monday, April 20th. B. Riley Financial upped their price target on shares of ClearPoint Neuro from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Finally, Stifel Nicolaus began coverage on shares of ClearPoint Neuro in a research report on Friday, May 8th. They set a “buy” rating and a $16.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ClearPoint Neuro presently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of ClearPoint Neuro

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in ClearPoint Neuro by 37.4% during the first quarter. Bank of America Corp DE now owns 66,075 shares of the company’s stock valued at $601,000 after buying an additional 17,990 shares during the period. Quantinno Capital Management LP boosted its position in ClearPoint Neuro by 307.4% during the first quarter. Quantinno Capital Management LP now owns 51,947 shares of the company’s stock valued at $473,000 after buying an additional 39,195 shares during the period. Bank of New York Mellon Corp boosted its position in ClearPoint Neuro by 39.6% during the first quarter. Bank of New York Mellon Corp now owns 143,747 shares of the company’s stock valued at $1,308,000 after buying an additional 40,741 shares during the period. Hsbc Holdings PLC bought a new position in shares of ClearPoint Neuro during the first quarter valued at about $129,000. Finally, SG Americas Securities LLC bought a new position in shares of ClearPoint Neuro during the first quarter valued at about $3,388,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

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.