Compass Financial Management LLC Buys New Position in ClearPoint Neuro, Inc. $CLPT

Key Points

• Compass Financial Management bought 295,680 ClearPoint Neuro shares worth approximately $5.3 million, giving it a 0.97% stake. Institutional investors and hedge funds collectively own 30.08% of the company.
• ClearPoint Neuro reported weaker-than-expected quarterly results, with an EPS loss of $0.38 versus the $0.29 consensus estimate and revenue of $10.88 million versus $12.73 million expected. Analysts anticipate a full-year loss of $1.22 per share.
• The stock opened at $13.96, while analysts’ consensus target is $25.67 and the overall rating is “Hold.” Insiders have sold 81,843 shares worth approximately $1.49 million over the past 90 days, including 20,000 shares sold by CEO Joseph Burnett.

Compass Financial Management LLC purchased a new stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 295,680 shares of the company's stock, valued at approximately $5,275,000. Compass Financial Management LLC owned 0.97% of ClearPoint Neuro at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of ClearPoint Neuro in the 2nd quarter valued at $42,456,000. Millennium Management LLC raised its holdings in shares of ClearPoint Neuro by 156.3% in the first quarter. Millennium Management LLC now owns 741,193 shares of the company's stock valued at $8,813,000 after buying an additional 452,043 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of ClearPoint Neuro in the first quarter valued at approximately $3,388,000. FirstWave Capital Management LLC bought a new position in ClearPoint Neuro in the 4th quarter worth approximately $4,971,000. Finally, Two Sigma Investments LP increased its position 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. Institutional investors and hedge funds own 30.08% of the company's stock.

Insider Transactions at ClearPoint Neuro

In other news, CEO Joseph Burnett sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.38, for a total value of $387,600.00. Following the completion of the sale, the chief executive officer directly owned 116,842 shares of the company's stock, valued at $2,264,397.96. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 81,843 shares of company stock valued at $1,488,063 in the last 90 days. 6.94% of the stock is owned by corporate insiders.

ClearPoint Neuro Stock Down 0.6%

ClearPoint Neuro stock opened at $13.96 on Friday. The firm has a market capitalization of $425.78 million, a PE ratio of -11.83 and a beta of 1.26. The company's 50-day moving average is $15.62 and its 200-day moving average is $13.24. ClearPoint Neuro, Inc. 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 4.66, a current ratio of 4.74 and a quick ratio of 3.89.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). ClearPoint Neuro had a negative net margin of 81.76% and a negative return on equity of 188.09%. The firm had revenue of $10.88 million during the quarter, compared to analyst estimates of $12.73 million. During the same quarter last year, the business posted ($0.21) earnings per share. Sell-side analysts anticipate that ClearPoint Neuro, Inc. will post -1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLPT has been the topic of a number of recent analyst reports. Wall Street Zen cut ClearPoint Neuro from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Lake Street Capital set a $25.00 price objective on shares of ClearPoint Neuro in a research report on Tuesday, August 4th. Stifel Nicolaus set a $22.00 target price on ClearPoint Neuro in a research note on Tuesday, August 4th. B. Riley Financial boosted their price target on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ClearPoint Neuro in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $25.67.

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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