ClearPoint Neuro (NASDAQ:CLPT) Stock Price Down 2.6% – Time to Sell?

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) dropped 2.6% on Friday . The company traded as low as $14.10 and last traded at $14.12. Approximately 466,957 shares changed hands during trading, a decline of 18% from the average session volume of 570,697 shares. The stock had previously closed at $14.49.

Analyst Upgrades and Downgrades

CLPT has been the subject of a number of recent research reports. B. Riley Financial upped their target price on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.00.

ClearPoint Neuro Price Performance

The company’s 50 day moving average price is $15.06 and its 200-day moving average price is $13.09. The stock has a market cap of $423.46 million, a P/E ratio of -13.98 and a beta of 1.23. The company has a quick ratio of 4.88, a current ratio of 5.79 and a debt-to-equity ratio of 2.63.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.97 million. As a group, sell-side analysts expect that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In other ClearPoint Neuro news, CEO Joseph Burnett sold 60,000 shares of ClearPoint Neuro stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.79, for a total transaction of $1,067,400.00. Following the transaction, the chief executive officer directly owned 116,842 shares of the company’s stock, valued at approximately $2,078,619.18. The trade was a 33.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy T. Richards sold 5,415 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the completion of the sale, the director owned 87,198 shares in the company, valued at $1,061,199.66. This trade represents a 5.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 108,349 shares of company stock valued at $1,796,118 over the last 90 days. 6.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ClearPoint Neuro

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in ClearPoint Neuro by 156.3% during the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after purchasing an additional 452,043 shares during the period. SG Americas Securities LLC acquired a new position in shares of ClearPoint Neuro in the 1st quarter worth approximately $3,388,000. FirstWave Capital Management LLC acquired a new position in shares of ClearPoint Neuro in the 4th quarter worth approximately $4,971,000. Two Sigma Investments LP boosted its stake in shares of ClearPoint Neuro by 1,316.1% in the 3rd quarter. Two Sigma Investments LP now owns 310,526 shares of the company’s stock valued at $6,766,000 after purchasing an additional 288,598 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of ClearPoint Neuro in the 4th quarter valued at $2,972,000. 30.08% of the stock is owned by institutional investors and hedge funds.

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.