Clearpoint Neuro Inc Down 12.55% To $4.74 After Earnings Beat

Clearpoint Neuro Inc (CLPT) said after close Thursday that it lost $0.2 per share in quarter three 2023.

On the revenue line, the company reported $5.8 million, missing estimates by $1 million.

In the same quarter a year ago, the company lost $0.15 per share on revenue of $5.1 million.

The stock is down 12.55% to $4.74 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Clearpoint Neuro Inc a Bearish Sentiment Rank from InvestorsObserver.

Clearpoint Neuro Inc has performed a little below average during the past few months. Before the report, Clearpoint Neuro Inc received a Long-Term Technical Rank by InvestorsObserver of 35, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $4.39 on October 4, 2023 and set a 52-week high on January 13, 2023 at $11.

MRI Interventions Inc is a medical device company based in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain and heart under direct, intra-procedural magnetic resonance imaging (MRI) guidance. It has two product platforms: ClearPoint system, which is in commercial use in the United States, is used to perform minimally invasive surgical procedures in the brain and ClearTrace system, which is under development, to be used to perform minimally invasive surgical procedures in the heart. The company's products and product candidates include ClearPoint Neuro Intervention System and The ClearTrace Cardiac Intervention System.