ClearPoint Neuro (NASDAQ:CLPT) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of ClearPoint Neuro (NASDAQ:CLPT) from a sell rating to a strong sell rating in a research report released on Saturday.

A number of other equities analysts have also recently issued reports on CLPT. Lake Street Capital set a $25.00 price target on shares of ClearPoint Neuro in a research note on Tuesday, August 4th. Stifel Nicolaus set a $22.00 price objective on shares of ClearPoint Neuro in a research note on Tuesday, August 4th. B. Riley Financial lifted their target price on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ClearPoint Neuro currently has a consensus rating of “Hold” and a consensus price target of $25.67.

ClearPoint Neuro Stock Up 2.5%

Shares of NASDAQ:CLPT opened at $14.57 on Friday. The stock has a fifty day simple moving average of $15.61 and a two-hundred day simple moving average of $13.03. The stock has a market capitalization of $444.38 million, a price-to-earnings ratio of -12.35 and a beta of 1.24. ClearPoint Neuro has a 12-month low of $8.27 and a 12-month high of $30.10. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66.

ClearPoint Neuro (NASDAQ:CLPT) last released its earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.The company had revenue of $10.88 million during the quarter, compared to analysts’ expectations of $12.73 million. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, research analysts anticipate that ClearPoint Neuro will post -1.29 earnings per share for the current fiscal year.

Insider Activity at ClearPoint Neuro

In other news, Director Matthew B. Klein sold 16,000 shares of ClearPoint Neuro stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $11.59, for a total value of $185,440.00. Following the completion of the sale, the director directly owned 46,935 shares in the company, valued at $543,976.65. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph Burnett sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.38, for a total transaction of $387,600.00. Following the transaction, the chief executive officer directly owned 116,842 shares of the company’s stock, valued at $2,264,397.96. The trade was a 14.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 108,349 shares of company stock valued at $1,796,118. Insiders own 6.94% of the company’s stock.

Institutional Investors Weigh In On ClearPoint Neuro

A number of hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro in the 4th quarter worth $25,000. BNP Paribas Financial Markets grew its holdings in shares of ClearPoint Neuro by 2,435.2% in the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after acquiring an additional 2,143 shares during the period. Legal & General Group Plc purchased a new stake in ClearPoint Neuro during the second quarter valued at $35,000. 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 valued at $51,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in ClearPoint Neuro by 5,568.9% in the second quarter. Versant Capital Management Inc now owns 3,458 shares of the company’s stock valued at $62,000 after acquiring an additional 3,397 shares during the period. 30.08% of the stock is currently owned by hedge funds and other 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.