B. Riley Financial Cuts ClearPoint Neuro (NASDAQ:CLPT) Price Target to $18.00

ClearPoint Neuro (NASDAQ:CLPT) had its price objective dropped by analysts at B. Riley Financial from $28.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price target points to a potential upside of 100.67% from the company’s previous close.

A number of other analysts have also issued reports on CLPT. Wall Street Zen lowered ClearPoint Neuro from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, ClearPoint Neuro has a consensus rating of “Hold” and an average price target of $13.50.

ClearPoint Neuro Trading Up 0.3%

CLPT stock traded up $0.03 during trading on Thursday, hitting $8.97. The company had a trading volume of 781,376 shares, compared to its average volume of 803,907. ClearPoint Neuro has a 52-week low of $8.63 and a 52-week high of $30.10. The company has a 50 day simple moving average of $13.82 and a 200-day simple moving average of $15.61. The firm has a market capitalization of $254.93 million, a P/E ratio of -10.68 and a beta of 1.02. The company has a quick ratio of 5.56, a current ratio of 6.37 and a debt-to-equity ratio of 1.84.

Insider Buying and Selling at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 2,943 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $15.57, for a total transaction of $45,822.51. Following the sale, the chief executive officer owned 214,116 shares of the company’s stock, valued at $3,333,786.12. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On ClearPoint Neuro

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in ClearPoint Neuro by 107.3% during the 2nd quarter. Geode Capital Management LLC now owns 624,800 shares of the company’s stock worth $7,461,000 after buying an additional 323,429 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in ClearPoint Neuro in the second quarter worth about $48,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of ClearPoint Neuro during the second quarter worth about $73,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of ClearPoint Neuro during the second quarter worth about $445,000. Finally, Lane Generational LLC increased its holdings in shares of ClearPoint Neuro by 20.7% during the third quarter. Lane Generational LLC now owns 311,885 shares of the company’s stock valued at $6,796,000 after acquiring an additional 53,458 shares in the last quarter. 30.08% of the stock is currently owned by institutional investors.

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.