ClearPoint Neuro, Inc. (NASDAQ:CLPT) CEO Sells $282,372.63 in Stock

ClearPoint Neuro, Inc. (NASDAQ:CLPT - Get Free Report) CEO Joseph Burnett sold 21,247 shares of the stock in a transaction dated Monday, June 9th. The shares were 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 now owns 243,522 shares of the company's stock, valued at approximately $3,236,407.38. This trade represents a 8.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

ClearPoint Neuro Stock Performance

NASDAQ:CLPT traded down $0.77 during trading hours on Thursday, reaching $12.08. The company's stock had a trading volume of 309,449 shares, compared to its average volume of 243,641. The firm has a 50-day simple moving average of $12.77 and a 200-day simple moving average of $14.30. 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 $338.11 million, a price-to-earnings ratio of -17.51 and a beta of 0.93.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CLPT shares. Wall Street Zen lowered shares of ClearPoint Neuro from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised their price target on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st.

Institutional Trading of ClearPoint Neuro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in ClearPoint Neuro by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock valued at $19,200,000 after acquiring an additional 5,400 shares in the last quarter. Millennium Management LLC grew 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 valued at $8,813,000 after acquiring an additional 452,043 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in ClearPoint Neuro by 27.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,409 shares of the company's stock valued at $4,436,000 after acquiring an additional 62,889 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in ClearPoint Neuro by 98.3% during 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 in the last quarter. Finally, Invesco Ltd. purchased a new position in ClearPoint Neuro during the fourth quarter valued at $3,814,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

ClearPoint Neuro Company 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.