Joseph Burnett Sells 21,247 Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT - Get Free Report) CEO Joseph Burnett sold 21,247 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $13.29, for a total value of $282,372.63. Following the completion of the transaction, the chief executive officer now owns 243,522 shares of the company's stock, valued at $3,236,407.38. The trade was a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ClearPoint Neuro Stock Performance

Shares of NASDAQ:CLPT traded down $0.54 during trading hours on Friday, hitting $11.54. The stock had a trading volume of 300,749 shares, compared to its average volume of 244,223. The stock's fifty day simple moving average is $12.81 and its 200 day simple moving average is $14.33. ClearPoint Neuro, Inc. has a 1-year low of $5.11 and a 1-year high of $19.22. The firm has a market capitalization of $322.99 million, a price-to-earnings ratio of -16.72 and a beta of 0.93.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. The business had revenue of $8.49 million for the quarter, compared to analysts' expectations of $8.21 million. As a group, research analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

Analyst Ratings Changes

CLPT has been the topic of several research reports. Stifel Nicolaus raised their price objective on ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Wall Street Zen raised ClearPoint Neuro from a "sell" rating to a "hold" rating in a research note on Saturday.

Institutional Trading of ClearPoint Neuro

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of ClearPoint Neuro by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock worth $19,200,000 after purchasing an additional 5,400 shares during the last quarter. Millennium Management LLC lifted its position in shares of ClearPoint Neuro by 156.3% during 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 during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of ClearPoint Neuro by 27.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,409 shares of the company's stock worth $4,436,000 after buying an additional 62,889 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 purchasing an additional 127,823 shares during the period. Finally, Invesco Ltd. acquired a new stake in ClearPoint Neuro in the fourth quarter valued at $3,814,000. Institutional investors and hedge funds own 30.08% of the company's stock.

About ClearPoint Neuro

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.