ClearPoint Neuro (NASDAQ:CLPT) CEO Joseph Burnett Sells 60,000 Shares of Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 60,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.79, for a total transaction of $1,067,400.00. Following the sale, the chief executive officer owned 116,842 shares in the company, valued at approximately $2,078,619.18. This represents a 33.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $33,063.42.

ClearPoint Neuro Price Performance

Shares of ClearPoint Neuro stock traded down $0.71 during trading hours on Monday, reaching $17.06. The stock had a trading volume of 868,956 shares, compared to its average volume of 761,475. The stock’s 50 day moving average is $12.15 and its 200 day moving average is $12.51. The company has a current ratio of 5.79, a quick ratio of 4.88 and a debt-to-equity ratio of 2.63. ClearPoint Neuro, Inc. has a twelve month low of $8.27 and a twelve month high of $30.10. The firm has a market capitalization of $511.63 million, a PE ratio of -16.89 and a beta of 1.31.

ClearPoint Neuro (NASDAQ:CLPT) last posted its 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 net margin of 71.57% and a negative return on equity of 140.96%. The business had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.97 million. Equities analysts expect that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of ClearPoint Neuro by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 65,557 shares of the company’s stock worth $897,000 after buying an additional 1,109 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ClearPoint Neuro by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company’s stock valued at $367,000 after buying an additional 1,204 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro in the fourth quarter worth about $25,000. Huntington National Bank acquired a new position in ClearPoint Neuro during the third quarter worth about $44,000. Finally, BNP Paribas Financial Markets boosted its position in ClearPoint Neuro by 2,435.2% during 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 last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus set a $16.00 price objective on ClearPoint Neuro in a report on Tuesday, June 9th. 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 research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.00.

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.