ClearPoint Neuro (NASDAQ:CLPT) Downgraded to "Sell" Rating by Wall Street Zen

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Separately, Stifel Nicolaus boosted their target price on ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st.

ClearPoint Neuro Stock Performance

CLPT traded down $0.88 during trading on Friday, hitting $10.97. The stock had a trading volume of 416,984 shares, compared to its average volume of 257,578. The firm has a market capitalization of $307.05 million, a P/E ratio of -14.43 and a beta of 0.92. The company's 50-day moving average price is $12.34 and its 200 day moving average price is $13.90. ClearPoint Neuro has a twelve month low of $6.25 and a twelve month high of $19.22.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). The company had revenue of $8.49 million during the quarter, compared to the consensus estimate of $8.21 million. ClearPoint Neuro had a negative net margin of 64.51% and a negative return on equity of 78.09%. As a group, equities analysts expect that ClearPoint Neuro will post -0.66 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Timothy T. Richards sold 10,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $13.28, for a total value of $132,800.00. Following the completion of the transaction, the director directly owned 77,381 shares of the company's stock, valued at approximately $1,027,619.68. This represents a 11.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Burnett sold 21,247 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $13.29, for a total transaction of $282,372.63. Following the completion of the transaction, the chief executive officer directly owned 243,522 shares in the company, valued at approximately $3,236,407.38. This represents a 8.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of ClearPoint Neuro by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock worth $19,200,000 after acquiring an additional 5,400 shares during the period. Millennium Management LLC increased its position in ClearPoint Neuro by 156.3% during the first quarter. Millennium Management LLC now owns 741,193 shares of the company's stock valued at $8,813,000 after acquiring an additional 452,043 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of ClearPoint Neuro by 27.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,409 shares of the company's stock worth $4,436,000 after purchasing an additional 62,889 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in ClearPoint Neuro by 98.3% in the first quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company's stock worth $3,066,000 after acquiring an additional 127,823 shares during the period. Finally, Invesco Ltd. purchased a new stake in shares of ClearPoint Neuro during the fourth quarter valued at about $3,814,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.