ClearPoint Neuro (NASDAQ:CLPT) Trading 11.4% Higher – Here’s Why

ClearPoint Neuro, Inc. (NASDAQ:CLPT) traded up 11.4% on Thursday . The company traded as high as $18.68 and last traded at $18.73. 469,036 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 743,656 shares. The stock had previously closed at $16.81.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. B. Riley Financial reaffirmed a “buy” rating on shares of ClearPoint Neuro in a research report on Thursday. Finally, Stifel Nicolaus set a $16.00 target price on shares of ClearPoint Neuro in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.00.

ClearPoint Neuro Price Performance

The company has a market cap of $533.31 million, a P/E ratio of -17.46 and a beta of 1.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 4.88 and a current ratio of 5.79. The firm’s fifty day moving average is $11.81 and its two-hundred day moving average is $12.46.

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

Insider Buying and Selling

In related news, Director Matthew B. Klein sold 16,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $11.59, for a total value of $185,440.00. Following the sale, the director directly owned 46,935 shares of the company’s stock, valued at $543,976.65. This represents a 25.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy T. Richards sold 5,415 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $12.17, for a total transaction of $65,900.55. Following the transaction, the director directly owned 87,198 shares in the company, valued at approximately $1,061,199.66. This trade represents a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,506 shares of company stock valued at $308,054 in the last ninety days. 6.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On ClearPoint Neuro

A number of hedge funds and other institutional investors have recently modified their holdings of CLPT. Millennium Management LLC boosted its stake in shares of ClearPoint Neuro by 156.3% during the first 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ClearPoint Neuro by 98.3% during the first quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company’s stock valued at $3,066,000 after purchasing an additional 127,823 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ClearPoint Neuro by 35.4% during the second quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company’s stock valued at $392,000 after purchasing an additional 8,581 shares in the last quarter. Legal & General Group Plc acquired a new stake in ClearPoint Neuro in the second quarter valued at approximately $35,000. Finally, Rhumbline Advisers acquired a new stake in ClearPoint Neuro in the second quarter valued at approximately $450,000. 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.