ClearPoint Neuro (NASDAQ:CLPT) Stock Price Down 2.6% – Should You Sell?

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s share price dropped 2.6% on Friday . The stock traded as low as $14.10 and last traded at $14.12. 466,957 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 570,697 shares. The stock had previously closed at $14.49.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Friday, July 17th. Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a report on Tuesday, June 9th. Finally, B. Riley Financial boosted their price objective on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.00.

ClearPoint Neuro Price Performance

The stock has a market cap of $423.46 million, a price-to-earnings ratio of -13.98 and a beta of 1.23. 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 company’s fifty day moving average is $15.06 and its two-hundred day moving average is $13.09.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) 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 for the quarter, compared to analyst estimates of $11.97 million. As a group, research analysts predict that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current year.

Insider Transactions at ClearPoint Neuro

In related news, Director Lynnette C. Fallon sold 5,091 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total transaction of $56,713.74. Following the transaction, the director owned 48,227 shares of the company’s stock, valued at approximately $537,248.78. This represents a 9.55% 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 Timothy T. Richards sold 5,415 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the transaction, the director owned 87,198 shares of the company’s stock, valued at $1,061,199.66. This trade represents a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,349 shares of company stock worth $1,796,118 over the last quarter. 6.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLPT. Millennium Management LLC increased its stake in ClearPoint Neuro by 156.3% during the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock worth $8,813,000 after buying an additional 452,043 shares during the period. Goldman Sachs Group Inc. boosted its position in ClearPoint Neuro by 98.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company’s stock valued at $3,066,000 after buying an additional 127,823 shares during the period. JPMorgan Chase & Co. grew its stake in shares of ClearPoint Neuro by 35.4% in the second quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company’s stock worth $392,000 after acquiring an additional 8,581 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of ClearPoint Neuro in the second quarter worth $35,000. Finally, Rhumbline Advisers purchased a new stake in shares of ClearPoint Neuro during the second quarter worth $450,000. Institutional investors and hedge funds 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.