ClearPoint Neuro (NASDAQ:CLPT) Shares Gap Up – Here’s What Happened

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.34, but opened at $18.15. ClearPoint Neuro shares last traded at $17.8280, with a volume of 3,675,063 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLPT. B. Riley Financial lifted their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a research report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.00.

ClearPoint Neuro Stock Performance

The company has a market capitalization of $532.92 million, a PE ratio of -17.59 and a beta of 1.31. The company has a current ratio of 5.79, a quick ratio of 4.88 and a debt-to-equity ratio of 2.63. The business’s fifty day moving average is $11.98 and its two-hundred day moving average is $12.48.

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

Insiders Place Their Bets

In other ClearPoint Neuro news, Director Matthew B. Klein sold 16,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $11.59, for a total transaction of $185,440.00. Following the transaction, the director owned 46,935 shares in the company, valued at approximately $543,976.65. This represents a 25.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynnette C. Fallon sold 5,091 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $11.14, for a total transaction of $56,713.74. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,506 shares of company stock valued at $308,054. 6.94% of the stock is owned by insiders.

Institutional Investors Weigh In On ClearPoint Neuro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised 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 buying an additional 17,990 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of 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 buying an additional 39,195 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ClearPoint Neuro by 39.6% in the 1st quarter. Bank of New York Mellon Corp now owns 143,747 shares of the company’s stock worth $1,308,000 after buying an additional 40,741 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of ClearPoint Neuro in the 1st quarter worth $129,000. Finally, SG Americas Securities LLC purchased a new position in shares of ClearPoint Neuro in the 1st quarter worth $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.