ClearPoint Neuro (NASDAQ:CLPT) Trading Down 7.5% – Should You Sell?

ClearPoint Neuro, Inc. (NASDAQ:CLPT) traded down 7.5% during trading on Tuesday . The stock traded as low as $17.79 and last traded at $17.98. Approximately 242,137 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 766,066 shares. The stock had previously closed at $19.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Monday, April 20th. Stifel Nicolaus set a $16.00 price target on shares of ClearPoint Neuro in a research report on Tuesday, June 9th. Finally, B. Riley Financial raised their price target on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.00.

ClearPoint Neuro Price Performance

The stock’s 50 day moving average is $13.16 and its two-hundred day moving average is $12.70. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.79 and a quick ratio of 4.88. The stock has a market capitalization of $540.24 million, a PE ratio of -18.03 and a beta of 1.31.

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

Insider Activity

In related news, Director Matthew B. Klein sold 16,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $11.59, for a total transaction of $185,440.00. Following the completion of the transaction, the director owned 46,935 shares in the company, valued at approximately $543,976.65. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph Burnett sold 1,843 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.94, for a total value of $33,063.42. Following the completion of the transaction, the chief executive officer directly owned 191,388 shares in the company, valued at $3,433,500.72. This trade represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 88,349 shares of company stock valued at $1,408,518 in the last 90 days. Company insiders own 6.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of ClearPoint Neuro in the 4th quarter valued at about $25,000. Huntington National Bank purchased a new stake in ClearPoint Neuro during the third quarter worth approximately $44,000. BNP Paribas Financial Markets boosted its holdings in ClearPoint Neuro by 2,435.2% in the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock valued at $27,000 after purchasing an additional 2,143 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in ClearPoint Neuro by 1,079.0% in the third quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock valued at $51,000 after purchasing an additional 2,158 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in ClearPoint Neuro in the second quarter valued at approximately $35,000. 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.