Insider Selling: ClearPoint Neuro (NASDAQ:CLPT) CEO Sells 20,000 Shares of Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 20,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.38, for a total value of $387,600.00. Following the sale, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,264,397.96. This trade represents a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.
• 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 value of $1,067,400.00.

ClearPoint Neuro Stock Up 4.9%

Shares of ClearPoint Neuro stock traded up $0.88 on Wednesday, reaching $18.72. 511,344 shares of the company were exchanged, compared to its average volume of 771,546. The stock’s 50 day moving average price is $13.28 and its 200-day moving average price is $12.74. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.79 and a quick ratio of 4.88. ClearPoint Neuro, Inc. has a 1-year low of $8.27 and a 1-year high of $30.10. The company has a market cap of $561.41 million, a P/E ratio of -18.53 and a beta of 1.31.

ClearPoint Neuro (NASDAQ:CLPT) last issued its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). ClearPoint Neuro had a negative net margin of 71.57% and a negative return on equity of 140.96%. The firm had revenue of $12.13 million during the quarter, compared to analyst estimates of $11.97 million. As a group, equities analysts forecast that ClearPoint Neuro, Inc. will post -1.05 EPS for the current year.

Hedge Funds Weigh In On ClearPoint Neuro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in ClearPoint Neuro in the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets lifted its position in ClearPoint Neuro by 2,435.2% in the second 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 last quarter. Legal & General Group Plc acquired a new stake in shares of ClearPoint Neuro in the 2nd quarter valued at about $35,000. Huntington National Bank purchased a new position in ClearPoint Neuro during the 3rd quarter worth approximately $44,000. Finally, Russell Investments Group Ltd. increased its position in ClearPoint Neuro by 1,079.0% during the third quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock worth $51,000 after buying an additional 2,158 shares during the period. 30.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLPT has been the subject of several recent analyst reports. Stifel Nicolaus set a $16.00 price objective on shares of ClearPoint Neuro in a research report on Tuesday, June 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Finally, B. Riley Financial raised their price target on ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, ClearPoint Neuro has an average rating of “Hold” and an average target price 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.