ClearPoint Neuro (NASDAQ:CLPT) Stock Rating Lowered by Wall Street Zen

ClearPoint Neuro (NASDAQ:CLPT) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. B. Riley Financial raised their price target on ClearPoint Neuro from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Lake Street Capital set a $25.00 price objective on ClearPoint Neuro in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $22.00 target price on ClearPoint Neuro in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.67.

ClearPoint Neuro Price Performance

NASDAQ CLPT opened at $14.21 on Friday. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66. The company has a fifty day simple moving average of $15.57 and a 200 day simple moving average of $13.02. The company has a market cap of $433.40 million, a P/E ratio of -12.04 and a beta of 1.24. ClearPoint Neuro has a 1 year low of $8.27 and a 1 year high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). The firm had revenue of $10.88 million during the quarter, compared to analyst estimates of $12.73 million. ClearPoint Neuro had a negative net margin of 81.76% and a negative return on equity of 188.09%. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, sell-side analysts predict that ClearPoint Neuro will post -1.29 EPS for the current year.

Insider Activity at ClearPoint Neuro

In related news, Director Lynnette C. Fallon sold 5,091 shares of ClearPoint Neuro 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 sale, the director directly owned 48,227 shares of the company’s stock, valued at $537,248.78. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $65,900.55. Following the sale, the director directly owned 87,198 shares in the company, valued at approximately $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 in the last three months. Corporate insiders own 6.94% of the company’s stock.

Institutional Trading of ClearPoint Neuro

A number of institutional investors and hedge funds have recently modified their holdings of the company. Conway Capital Management Inc. acquired a new position in shares of ClearPoint Neuro in the second quarter valued at $1,659,000. BlackRock Inc. acquired a new position in shares of ClearPoint Neuro in the 2nd quarter valued at $42,456,000. Deutsche Bank AG bought a new position in shares of ClearPoint Neuro during the 2nd quarter worth about $2,048,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ClearPoint Neuro during the 2nd quarter valued at about $261,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of ClearPoint Neuro during the 2nd quarter valued at about $75,000. 30.08% of the stock is currently owned by institutional investors.

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.