Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Rises By 29.0%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,288,498 shares, a growth of 29.0% from the February 26th total of 3,325,107 shares. Currently, 15.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,485,024 shares, the days-to-cover ratio is presently 2.9 days.

Insider Buying and Selling

In other ClearPoint Neuro news, CEO Joseph Burnett sold 2,943 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $15.57, for a total value of $45,822.51. Following the sale, the chief executive officer directly owned 214,116 shares of the company’s stock, valued at approximately $3,333,786.12. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.97% 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 CLPT. MGO One Seven LLC lifted its holdings in shares of ClearPoint Neuro by 6.0% during the 3rd quarter. MGO One Seven LLC now owns 19,026 shares of the company’s stock valued at $415,000 after buying an additional 1,077 shares during the period. Commonwealth Equity Services LLC increased its position in ClearPoint Neuro by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock valued at $897,000 after acquiring an additional 1,109 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ClearPoint Neuro by 4.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after acquiring an additional 1,204 shares during the last quarter. Financial Management Professionals Inc. bought a new position in ClearPoint Neuro in the third quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in ClearPoint Neuro in the fourth quarter worth about $25,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CLPT has been the topic of a number of analyst reports. B. Riley Financial upped their price target on shares of ClearPoint Neuro from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ClearPoint Neuro currently has a consensus rating of “Hold” and a consensus price target of $14.50.

ClearPoint Neuro Stock Performance

NASDAQ CLPT traded down $0.32 during trading hours on Monday, hitting $8.76. The company’s stock had a trading volume of 157,628 shares, compared to its average volume of 825,046. ClearPoint Neuro has a 12 month low of $8.63 and a 12 month high of $30.10. The company’s 50 day simple moving average is $12.34 and its two-hundred day simple moving average is $15.59. The company has a debt-to-equity ratio of 1.75, a current ratio of 5.91 and a quick ratio of 5.13. The company has a market cap of $259.71 million, a P/E ratio of -9.62 and a beta of 1.02.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). ClearPoint Neuro had a negative net margin of 69.08% and a negative return on equity of 122.17%. The company had revenue of $10.41 million for the quarter, compared to the consensus estimate of $10.40 million. As a group, sell-side analysts expect that ClearPoint Neuro will post -0.66 EPS for the current fiscal year.

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.