Stock Traders Buy High Volume of Call Options on ClearPoint Neuro (NASDAQ:CLPT)

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw some unusual options trading activity on Thursday. Traders bought 3,067 call options on the company. This is an increase of approximately 1,623% compared to the typical daily volume of 178 call options.

A number of research analysts have commented on the company. Zacks Investment Research cut ClearPoint Neuro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 5th. Lake Street Capital began coverage on ClearPoint Neuro in a research note on Thursday, March 18th. They set a “buy” rating and a $32.00 target price on the stock.

Shares of CLPT stock traded up $0.84 during trading on Thursday, reaching $19.98. The company’s stock had a trading volume of 38,847 shares, compared to its average volume of 403,759. ClearPoint Neuro has a 1-year low of $3.15 and a 1-year high of $31.29. The company has a 50-day simple moving average of $18.86. The firm has a market cap of $414.80 million, a P/E ratio of -48.17 and a beta of 1.02. The company has a quick ratio of 21.50, a current ratio of 22.55 and a debt-to-equity ratio of 0.56.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Monday, May 10th. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. ClearPoint Neuro had a negative net margin of 52.86% and a negative return on equity of 60.73%. The company had revenue of $4.03 million during the quarter, compared to analysts’ expectations of $3.35 million. Sell-side analysts anticipate that ClearPoint Neuro will post -0.51 EPS for the current fiscal year.

In other ClearPoint Neuro news, CEO Joseph Michael Burnett sold 25,000 shares of the stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $18.57, for a total transaction of $464,250.00. Following the completion of the transaction, the chief executive officer now owns 237,366 shares of the company’s stock, valued at $4,407,886.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.49% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parian Global Management LP increased its holdings in ClearPoint Neuro by 23.7% during the 1st quarter. Parian Global Management LP now owns 573,093 shares of the company’s stock worth $12,115,000 after purchasing an additional 109,948 shares during the period. BlackRock Inc. increased its stake in shares of ClearPoint Neuro by 565.9% during the first quarter. BlackRock Inc. now owns 320,087 shares of the company’s stock worth $6,767,000 after buying an additional 272,022 shares during the period. Millennium Management LLC raised its holdings in ClearPoint Neuro by 154.2% in the first quarter. Millennium Management LLC now owns 191,784 shares of the company’s stock valued at $4,054,000 after acquiring an additional 116,324 shares in the last quarter. Kepos Capital LP acquired a new stake in ClearPoint Neuro in the first quarter valued at approximately $2,643,000. Finally, Geode Capital Management LLC lifted its stake in ClearPoint Neuro by 31.0% in the first quarter. Geode Capital Management LLC now owns 115,938 shares of the company’s stock worth $2,450,000 after acquiring an additional 27,431 shares during the last quarter. 14.67% of the stock is owned by hedge funds and other institutional investors.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. The company develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under direct, and intra-procedural magnetic resonance imaging (MRI) guidance. It offers ClearPoint system, a neuro-navigation system designed for instruments or devices designed to treat various neurological diseases and conditions, as well as for performing biopsies.

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