Deutsche Bank AG Invests $2.05 Million in ClearPoint Neuro, Inc. $CLPT

Key Points

• Deutsche Bank acquired 114,795 ClearPoint Neuro shares worth approximately $2.05 million in the second quarter, giving it a 0.38% stake. Institutional investors collectively own 30.08% of the company.
• ClearPoint Neuro insiders have been selling shares: executives and directors sold 87,258 shares worth about $1.55 million over the past 90 days, while insiders retain 6.94% ownership.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $25.67 price target. The company recently missed quarterly earnings and revenue estimates, reporting a $0.38 per-share loss and $10.88 million in revenue.

Deutsche Bank AG bought a new position in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 114,795 shares of the company's stock, valued at approximately $2,048,000. Deutsche Bank AG owned 0.38% of ClearPoint Neuro at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Millennium Management LLC boosted its stake in ClearPoint Neuro by 156.3% during the first quarter. Millennium Management LLC now owns 741,193 shares of the company's stock worth $8,813,000 after buying an additional 452,043 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of ClearPoint Neuro by 98.3% in the first quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company's stock valued at $3,066,000 after acquiring an additional 127,823 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ClearPoint Neuro by 35.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company's stock worth $392,000 after acquiring an additional 8,581 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of ClearPoint Neuro in the 2nd quarter worth about $35,000. Finally, Rhumbline Advisers purchased a new position in shares of ClearPoint Neuro during the 2nd quarter worth about $450,000. 30.08% of the stock is currently owned by institutional investors.

Insider Activity at ClearPoint Neuro

In related news, CEO Joseph Burnett sold 60,000 shares of the company's 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 completion of the transaction, the chief executive officer owned 116,842 shares of the company's stock, valued at approximately $2,078,619.18. This represents a 33.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director directly owned 87,198 shares in the company, valued at $1,061,199.66. This represents a 5.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 87,258 shares of company stock valued at $1,553,964. Insiders own 6.94% of the company's stock.

Analysts Set New Price Targets

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

ClearPoint Neuro Trading Down 2.4%

Shares of ClearPoint Neuro stock opened at $15.55 on Friday. The firm's 50 day simple moving average is $15.97 and its two-hundred day simple moving average is $13.21. The firm has a market capitalization of $474.27 million, a price-to-earnings ratio of -13.18 and a beta of 1.24. ClearPoint Neuro, Inc. has a 12-month low of $8.27 and a 12-month high of $30.10. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released 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 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 previous year, the company earned ($0.21) EPS. Analysts predict that ClearPoint Neuro, Inc. will post -1.29 EPS for the current year.

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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