ClearPoint Neuro (NASDAQ:CLPT) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• ClearPoint Neuro missed quarterly expectations: The company reported a loss of $0.38 per share, $0.09 worse than analysts’ consensus, while revenue of $10.88 million fell short of the $12.73 million estimate.
• Shares rose 2.9% to $15.38 following the results, though the company continues to report significant losses, including a negative net margin of 71.57% and negative return on equity of 140.96%.
• Analyst sentiment remains mixed: B. Riley raised its price target to $30 with a Buy rating, while Stifel set a $16 target and Weiss maintained a Sell rating; the overall consensus is Hold with a $23 average target.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) announced its earnings results on Monday. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.09), FiscalAI reports. ClearPoint Neuro had a negative return on equity of 140.96% and a negative net margin of 71.57%.The company had revenue of $10.88 million during the quarter, compared to analysts' expectations of $12.73 million.

ClearPoint Neuro Trading Up 2.9%

CLPT traded up $0.44 during trading hours on Monday, reaching $15.38. The company's stock had a trading volume of 680,272 shares, compared to its average volume of 731,053. The stock has a market cap of $461.25 million, a PE ratio of -15.23 and a beta of 1.23. ClearPoint Neuro has a fifty-two week low of $8.27 and a fifty-two week 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 business's 50-day moving average is $15.38 and its 200-day moving average is $13.05.

Insiders Place Their Bets

In other ClearPoint Neuro news, Director Matthew B. Klein sold 16,000 shares of ClearPoint Neuro stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $11.59, for a total value of $185,440.00. Following the sale, the director owned 46,935 shares in the company, valued at $543,976.65. The trade was a 25.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy T. Richards sold 5,415 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 108,349 shares of company stock worth $1,796,118 in the last three months. 6.94% of the stock is owned by insiders.

Institutional Trading of ClearPoint Neuro

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new position in ClearPoint Neuro during the fourth quarter worth about $235,000. XTX Topco Ltd purchased a new stake in shares of ClearPoint Neuro in the 4th quarter valued at approximately $300,000. Millennium Management LLC raised its stake in shares of ClearPoint Neuro by 174.4% in the 4th quarter. Millennium Management LLC now owns 515,375 shares of the company's stock valued at $7,050,000 after acquiring an additional 327,574 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of ClearPoint Neuro in the 4th quarter worth approximately $2,972,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of ClearPoint Neuro by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,791 shares of the company's stock worth $367,000 after acquiring an additional 1,204 shares during the last quarter. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. B. Riley Financial boosted their target price on ClearPoint Neuro from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Stifel Nicolaus set a $16.00 target price on ClearPoint Neuro in a research report on Tuesday, June 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ClearPoint Neuro in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.00.

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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