Stock Traders Purchase High Volume of Call Options on ClearPoint Neuro (NASDAQ:CLPT)

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 3,212 call options on the company. This is an increase of 356% compared to the average volume of 705 call options.

ClearPoint Neuro Trading Up 36.8%

CLPT traded up $4.91 during trading on Wednesday, reaching $18.25. The company had a trading volume of 4,875,532 shares, compared to its average volume of 728,351. The firm’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $12.44. The company has a market cap of $547.32 million, a price-to-earnings ratio of -18.07 and a beta of 1.31. ClearPoint Neuro has a 12-month low of $8.27 and a 12-month high of $30.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 4.88 and a current ratio of 5.79.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $12.13 million during the quarter, compared to analysts’ expectations of $11.97 million. ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%. Equities research analysts anticipate that ClearPoint Neuro will post -1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $16.00 target price on ClearPoint Neuro in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Finally, B. Riley Financial lifted their price target on ClearPoint Neuro from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ClearPoint Neuro presently has a consensus rating of “Hold” and an average price target of $18.00.

Insider Buying and Selling

In related news, Director Matthew B. Klein sold 16,000 shares of ClearPoint Neuro stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $11.59, for a total transaction of $185,440.00. Following the transaction, the director directly owned 46,935 shares of the company’s stock, valued at $543,976.65. The trade was a 25.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynnette C. Fallon sold 5,091 shares of ClearPoint Neuro stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total value of $56,713.74. Following the transaction, the director directly owned 48,227 shares in the company, valued at approximately $537,248.78. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,506 shares of company stock valued at $308,054 over the last three months. Company insiders own 6.94% of the company’s stock.

Hedge Funds Weigh In On ClearPoint Neuro

A number of institutional investors have recently bought and sold shares of CLPT. Bank of America Corp DE grew its stake in ClearPoint Neuro by 37.4% during the 1st quarter. Bank of America Corp DE now owns 66,075 shares of the company’s stock valued at $601,000 after acquiring an additional 17,990 shares in the last quarter. Quantinno Capital Management LP grew its stake in ClearPoint Neuro by 307.4% during the 1st quarter. Quantinno Capital Management LP now owns 51,947 shares of the company’s stock valued at $473,000 after acquiring an additional 39,195 shares in the last quarter. Bank of New York Mellon Corp grew its stake in ClearPoint Neuro by 39.6% during the 1st quarter. Bank of New York Mellon Corp now owns 143,747 shares of the company’s stock valued at $1,308,000 after acquiring an additional 40,741 shares in the last quarter. Hsbc Holdings PLC purchased a new position in ClearPoint Neuro during the 1st quarter valued at about $129,000. Finally, SG Americas Securities LLC purchased a new position in ClearPoint Neuro during the 1st quarter valued at about $3,388,000. Hedge funds and other institutional investors own 30.08% of the company’s stock.

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.