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

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

Several other brokerages have also recently weighed in on CLPT. B. Riley increased their price target on ClearPoint Neuro from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Stifel Nicolaus increased their target price on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st.

ClearPoint Neuro Price Performance

Shares of NASDAQ CLPT traded up $0.06 during mid-day trading on Thursday, hitting $12.22. 31,645 shares of the stock traded hands, compared to its average volume of 235,156. The company has a market cap of $341.89 million, a PE ratio of -17.65 and a beta of 1.03. ClearPoint Neuro has a twelve month low of $5.11 and a twelve month high of $19.22. The firm has a 50 day simple moving average of $12.86 and a two-hundred day simple moving average of $14.22.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The firm had revenue of $8.49 million for the quarter, compared to the consensus estimate of $8.21 million. On average, equities research analysts anticipate that ClearPoint Neuro will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ClearPoint Neuro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in ClearPoint Neuro by 98.3% during the 1st 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 last quarter. Millennium Management LLC lifted its position in shares of 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 purchasing an additional 452,043 shares in the last quarter. Trexquant Investment LP boosted its holdings in ClearPoint Neuro by 8.0% during the first quarter. Trexquant Investment LP now owns 84,653 shares of the company's stock worth $1,007,000 after purchasing an additional 6,291 shares during the last quarter. EntryPoint Capital LLC purchased a new position in ClearPoint Neuro during the first quarter worth about $429,000. Finally, Informed Momentum Co LLC grew its position in ClearPoint Neuro by 2.4% in the 1st quarter. Informed Momentum Co LLC now owns 49,177 shares of the company's stock worth $585,000 after purchasing an additional 1,143 shares in the last quarter. 30.08% of the stock is owned by hedge funds and other institutional investors.

ClearPoint Neuro Company Profile

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.

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