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

Key Points

• Wall Street Zen downgraded ClearPoint Neuro to “strong sell”, while other analysts remain mixed; MarketBeat’s consensus rating is “Hold” with a $25.67 target price.
• ClearPoint Neuro missed quarterly expectations, reporting an adjusted loss of $0.38 per share versus the expected $0.29 loss and revenue of $10.88 million versus $12.73 million estimated.
• The stock opened at $14.21, well below its 12-month high of $30.10, as insiders sold more than 108,000 shares worth approximately $1.8 million over the past three months; institutional investors own 30.08% of the company.

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

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus set a $22.00 price target on ClearPoint Neuro in a research note on Tuesday. Lake Street Capital set a $25.00 price objective on ClearPoint Neuro in a research report on Tuesday. B. Riley Financial lifted their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ClearPoint Neuro in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.67.

ClearPoint Neuro Stock Performance

Shares of ClearPoint Neuro stock opened at $14.21 on Friday. The company has a quick ratio of 4.88, a current ratio of 4.74 and a debt-to-equity ratio of 4.66. ClearPoint Neuro has a twelve month low of $8.27 and a twelve month high of $30.10. The stock has a market cap of $433.40 million, a price-to-earnings ratio of -12.04 and a beta of 1.24. The company's fifty day moving average is $15.57 and its 200 day moving average is $13.03.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.09). The company 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 company earned ($0.21) earnings per share. Sell-side analysts forecast that ClearPoint Neuro will post -1.29 EPS for the current year.

Insider Activity

In other ClearPoint Neuro news, Director Matthew B. Klein sold 16,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $11.59, for a total transaction of $185,440.00. Following the sale, the director owned 46,935 shares of the company's stock, valued at approximately $543,976.65. This represents a 25.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Burnett sold 60,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.79, for a total value of $1,067,400.00. Following the sale, the chief executive officer owned 116,842 shares of the company's stock, valued at approximately $2,078,619.18. The trade was a 33.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 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.

Hedge Funds Weigh In On ClearPoint Neuro

A number of institutional investors and hedge funds have recently modified their holdings of CLPT. BlackRock Inc. bought a new stake in shares of ClearPoint Neuro in the 2nd quarter valued at $42,456,000. Millennium Management LLC lifted its position in shares of ClearPoint Neuro by 156.3% during the 1st 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 period. SG Americas Securities LLC bought a new position in ClearPoint Neuro during the first quarter worth $3,388,000. FirstWave Capital Management LLC bought a new position in ClearPoint Neuro during the fourth quarter worth $4,971,000. Finally, Two Sigma Investments LP grew its holdings in ClearPoint Neuro by 1,316.1% in the third quarter. Two Sigma Investments LP now owns 310,526 shares of the company's stock worth $6,766,000 after purchasing an additional 288,598 shares during the period. 30.08% of the stock is currently owned by institutional investors.

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.

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