Legato Capital Management LLC Has $1.16 Million Holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Legato Capital Management LLC lowered its position in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 20.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,189 shares of the company's stock after selling 24,868 shares during the period. Legato Capital Management LLC owned approximately 0.35% of ClearPoint Neuro worth $1,156,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CLPT. Tower Research Capital LLC TRC bought a new stake in shares of ClearPoint Neuro in the fourth quarter worth $93,000. Cannon Global Investment Management LLC bought a new stake in shares of ClearPoint Neuro in the first quarter worth $143,000. State of Wyoming bought a new stake in shares of ClearPoint Neuro in the fourth quarter worth $145,000. Occudo Quantitative Strategies LP bought a new stake in shares of ClearPoint Neuro in the fourth quarter worth $155,000. Finally, Two Sigma Investments LP bought a new stake in shares of ClearPoint Neuro in the fourth quarter worth $159,000. Hedge funds and other institutional investors own 30.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of ClearPoint Neuro from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Stifel Nicolaus lifted their price objective on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st.

Insider Buying and Selling at ClearPoint Neuro

In related news, Director Timothy T. Richards sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $13.28, for a total value of $132,800.00. Following the completion of the sale, the director owned 77,381 shares of the company's stock, valued at $1,027,619.68. This represents a 11.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph Burnett sold 21,247 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $13.29, for a total transaction of $282,372.63. Following the completion of the sale, the chief executive officer directly owned 243,522 shares of the company's stock, valued at $3,236,407.38. The trade was a 8.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.97% of the company's stock.

ClearPoint Neuro Stock Performance

Shares of CLPT traded down $0.05 during midday trading on Friday, hitting $11.23. 303,633 shares of the stock traded hands, compared to its average volume of 561,961. ClearPoint Neuro, Inc. has a 1-year low of $6.25 and a 1-year high of $19.22. The firm has a market capitalization of $314.33 million, a PE ratio of -14.78 and a beta of 0.92. The business's 50 day moving average price is $11.90 and its two-hundred day moving average price is $13.61.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.07). ClearPoint Neuro had a negative net margin of 64.51% and a negative return on equity of 78.09%. The firm had revenue of $8.49 million for the quarter, compared to analyst estimates of $8.21 million. As a group, equities research analysts forecast that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

ClearPoint Neuro Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.