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

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw some unusual options trading on Wednesday. Stock traders acquired 3,212 call options on the stock. This is an increase of approximately 356% compared to the typical daily volume of 705 call options.

Wall Street Analyst Weigh In

CLPT has been the topic of several research analyst reports. B. Riley Financial lifted their target price on ClearPoint Neuro from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Monday, April 20th. Finally, Stifel Nicolaus set a $16.00 price target on ClearPoint Neuro in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.00.

ClearPoint Neuro Stock Performance

CLPT traded up $4.91 on Wednesday, hitting $18.25. The company had a trading volume of 4,875,532 shares, compared to its average volume of 728,351. The company’s fifty day moving average price is $11.66 and its 200 day moving average price is $12.44. ClearPoint Neuro has a 1-year low of $8.27 and a 1-year high of $30.10. 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 cap of $547.32 million, a price-to-earnings ratio of -18.07 and a beta of 1.31.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $12.13 million during the quarter, compared to analyst estimates of $11.97 million. Equities analysts predict that ClearPoint Neuro will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, Director Timothy T. Richards sold 5,415 shares of ClearPoint Neuro stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $12.17, for a total transaction of $65,900.55. Following the transaction, the director owned 87,198 shares of the company’s stock, valued at $1,061,199.66. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew B. Klein sold 16,000 shares of ClearPoint Neuro stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $11.59, for a total value of $185,440.00. Following the transaction, the director directly owned 46,935 shares in the company, valued at approximately $543,976.65. This trade represents a 25.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,506 shares of company stock valued at $308,054 in the last 90 days. 6.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ClearPoint Neuro

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boone Capital Management LLC acquired a new stake in ClearPoint Neuro in the 3rd quarter worth approximately $6,186,000. Prescott Group Capital Management L.L.C. acquired a new stake in ClearPoint Neuro in the 4th quarter worth approximately $2,470,000. Alliancebernstein L.P. acquired a new stake in ClearPoint Neuro in the 3rd quarter worth approximately $344,000. Invesco Ltd. acquired a new stake in ClearPoint Neuro in the 2nd quarter worth approximately $247,000. Finally, Verition Fund Management LLC acquired a new stake in ClearPoint Neuro in the 4th quarter worth approximately $142,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

ClearPoint Neuro Company Profile

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.