SG Americas Securities LLC Buys Shares of 372,356 ClearPoint Neuro, Inc. $CLPT

Key Points

• SG Americas Securities LLC disclosed a new first-quarter stake in ClearPoint Neuro, buying 372,356 shares valued at about $3.39 million, or roughly 1.24% of the company.
• Several other institutional investors also increased their positions, while hedge funds and institutions now own about 30.08% of ClearPoint Neuro.
• Insiders have been selling shares recently, including Director Lynnette C. Fallon and CEO Joseph Burnett, as the stock traded around $17.84 after an 8.2% decline.

SG Americas Securities LLC bought a new position in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 372,356 shares of the company's stock, valued at approximately $3,388,000. SG Americas Securities LLC owned approximately 1.24% of ClearPoint Neuro at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CLPT. Vanguard Group Inc. lifted its holdings in shares of ClearPoint Neuro by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,497,637 shares of the company's stock valued at $32,634,000 after purchasing an additional 22,517 shares in the last quarter. Millennium Management LLC increased its holdings in ClearPoint Neuro by 156.3% in the 1st 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 in the last quarter. State Street Corp raised its position in ClearPoint Neuro by 30.1% in the 4th quarter. State Street Corp now owns 628,061 shares of the company's stock worth $8,592,000 after buying an additional 145,411 shares during the last quarter. FirstWave Capital Management LLC purchased a new position in ClearPoint Neuro in the 4th quarter worth about $4,971,000. Finally, UBS Group AG lifted its stake in ClearPoint Neuro by 132.1% during the 3rd quarter. UBS Group AG now owns 360,705 shares of the company's stock valued at $7,860,000 after acquiring an additional 205,295 shares during the period. Hedge funds and other institutional investors own 30.08% of the company's stock.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, Director Lynnette C. Fallon sold 5,091 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $11.14, for a total transaction of $56,713.74. Following the completion of the sale, the director directly owned 48,227 shares of the company's stock, valued at approximately $537,248.78. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Burnett sold 1,843 shares of ClearPoint Neuro stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.94, for a total transaction of $33,063.42. Following the transaction, the chief executive officer owned 191,388 shares in the company, valued at $3,433,500.72. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 88,349 shares of company stock valued at $1,408,518 in the last ninety days. Corporate insiders own 6.94% of the company's stock.

ClearPoint Neuro Stock Down 8.2%

CLPT stock opened at $17.84 on Wednesday. The company has a market cap of $535.02 million, a price-to-earnings ratio of -17.66 and a beta of 1.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 4.88 and a current ratio of 5.79. The business's 50-day moving average is $13.28 and its two-hundred day moving average is $12.74. ClearPoint Neuro, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.04). ClearPoint Neuro had a negative net margin of 71.57% and a negative return on equity of 140.96%. The firm had revenue of $12.13 million for the quarter, compared to the consensus estimate of $11.97 million. As a group, analysts forecast that ClearPoint Neuro, Inc. will post -1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CLPT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ClearPoint Neuro in a report on Monday, April 20th. Stifel Nicolaus set a $16.00 price objective on shares of ClearPoint Neuro in a research report on Tuesday, June 9th. Finally, B. Riley Financial increased their price objective on shares of ClearPoint Neuro from $20.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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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