ClearPoint Neuro (NASDAQ:CLPT) Announces Quarterly Earnings Results

ClearPoint Neuro (NASDAQ:CLPT) announced its earnings results on Tuesday. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05), FiscalAI reports. The business had revenue of $10.41 million during the quarter, compared to analyst estimates of $10.40 million. ClearPoint Neuro had a negative return on equity of 114.28% and a negative net margin of 67.40%.

ClearPoint Neuro Stock Performance

Shares of NASDAQ:CLPT traded up $0.13 on Tuesday, hitting $11.16. The company had a trading volume of 420,738 shares, compared to its average volume of 836,000. The stock has a 50 day moving average price of $13.33 and a 200 day moving average price of $15.66. The company has a current ratio of 6.37, a quick ratio of 5.56 and a debt-to-equity ratio of 1.84. The stock has a market cap of $317.17 million, a price-to-earnings ratio of -13.29 and a beta of 1.02. ClearPoint Neuro has a 1-year low of $8.63 and a 1-year high of $30.10.

Insiders Place Their Bets

In other ClearPoint Neuro news, CEO Joseph Burnett sold 2,943 shares of ClearPoint Neuro stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $15.57, for a total value of $45,822.51. Following the completion of the sale, the chief executive officer owned 214,116 shares in the company, valued at $3,333,786.12. The trade was a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.11% of the company’s stock.

Institutional Trading of ClearPoint Neuro

Several large investors have recently made changes to their positions in CLPT. Caitong International Asset Management Co. Ltd acquired a new position in ClearPoint Neuro in the 4th quarter worth about $25,000. BNP Paribas Financial Markets lifted its position in shares of ClearPoint Neuro by 2,435.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after purchasing an additional 2,143 shares during the period. Legal & General Group Plc bought a new stake in ClearPoint Neuro during the second quarter valued at $35,000. Russell Investments Group Ltd. boosted its position in shares of ClearPoint Neuro by 1,079.0% during the 3rd 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, Raymond James Financial Inc. bought a new position in shares of ClearPoint Neuro during the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. B. Riley Financial decreased their target price on ClearPoint Neuro from $28.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. Two research 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, ClearPoint Neuro has an average rating of “Hold” and an average target price of $13.50.

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.