Compass Financial Management LLC Invests $5.28 Million in ClearPoint Neuro, Inc. $CLPT

Key Points

• Compass Financial Management acquired 295,680 ClearPoint Neuro shares worth approximately $5.28 million, while institutional investors and hedge funds collectively own 30.08% of the company.
• ClearPoint Neuro reported weaker-than-expected quarterly results, with a loss of $0.38 per share versus the $0.29 consensus estimate and revenue of $10.88 million versus expectations of $12.73 million.
• Analyst views remain mixed: the stock has an overall “Hold” consensus and a $25.67 price target, while shares recently opened at $15.39 and insiders sold 87,258 shares valued at roughly $1.55 million during the last quarter.

Compass Financial Management LLC bought a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 295,680 shares of the company's stock, valued at approximately $5,275,000. Compass Financial Management LLC owned approximately 0.97% of ClearPoint Neuro at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in ClearPoint Neuro during the second quarter worth $42,456,000. Millennium Management LLC raised its holdings 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 during the period. SG Americas Securities LLC acquired a new position in shares of ClearPoint Neuro during the first quarter valued at about $3,388,000. FirstWave Capital Management LLC bought a new position in shares of ClearPoint Neuro during the 4th quarter worth about $4,971,000. Finally, Two Sigma Investments LP boosted its position in shares of ClearPoint Neuro by 1,316.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 30.08% of the company's stock.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, Director Timothy T. Richards sold 5,415 shares of ClearPoint Neuro stock in a transaction on Monday, June 1st. The shares were sold at an average price of $12.17, for a total transaction of $65,900.55. Following the transaction, the director directly owned 87,198 shares of the company's stock, valued at $1,061,199.66. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Burnett sold 20,000 shares of ClearPoint Neuro stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.38, for a total transaction of $387,600.00. Following the transaction, the chief executive officer directly owned 116,842 shares in the company, valued at $2,264,397.96. This represents a 14.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 87,258 shares of company stock valued at $1,553,964 in the last quarter. 6.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

ClearPoint Neuro Stock Up 1.3%

Shares of NASDAQ CLPT opened at $15.39 on Friday. The stock has a market capitalization of $469.39 million, a P/E ratio of -13.04 and a beta of 1.24. The company has a 50-day moving average price of $15.95 and a 200-day moving average price of $13.11. ClearPoint Neuro, Inc. has a 1 year low of $8.27 and a 1 year 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 posted its earnings results 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 business had revenue of $10.88 million during the quarter, compared to analyst estimates of $12.73 million. ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.During the same quarter in the prior year, the company earned ($0.21) EPS. On average, equities research analysts forecast that ClearPoint Neuro, Inc. will post -1.29 EPS for the current fiscal year.

About ClearPoint Neuro

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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