ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett Sells 21,247 Shares

ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Joseph Burnett sold 21,247 shares of ClearPoint Neuro stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $13.29, for a total value of $282,372.63. Following the completion of the sale, the chief executive officer now directly owns 243,522 shares in the company, valued at approximately $3,236,407.38. This represents a 8.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ClearPoint Neuro Stock Down 6.0%

Shares of NASDAQ CLPT opened at $12.08 on Friday. The business’s 50 day moving average price is $12.79 and its two-hundred day moving average price is $14.31. The company has a market cap of $338.11 million, a PE ratio of -17.51 and a beta of 0.93. ClearPoint Neuro, Inc. has a twelve month low of $5.11 and a twelve month high of $19.22.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). The business had revenue of $8.49 million for the quarter, compared to analyst estimates of $8.21 million. ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. As a group, research analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On ClearPoint Neuro

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in ClearPoint Neuro by 211.9% during the fourth quarter. Bank of America Corp DE now owns 42,307 shares of the company’s stock worth $651,000 after buying an additional 28,742 shares during the last quarter. Man Group plc acquired a new position in ClearPoint Neuro during the fourth quarter worth approximately $1,107,000. Tower Research Capital LLC TRC acquired a new position in ClearPoint Neuro during the fourth quarter worth approximately $93,000. Millennium Management LLC increased its position in ClearPoint Neuro by 5.0% during the fourth quarter. Millennium Management LLC now owns 289,150 shares of the company’s stock worth $4,447,000 after buying an additional 13,866 shares during the last quarter. Finally, Barclays PLC increased its position in ClearPoint Neuro by 1,070.9% during the fourth quarter. Barclays PLC now owns 66,436 shares of the company’s stock worth $1,022,000 after buying an additional 60,762 shares during the last quarter. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on ClearPoint Neuro from $19.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Wall Street Zen downgraded ClearPoint Neuro from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.