Cubist Systematic Strategies LLC Takes $419,000 Position in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Cubist Systematic Strategies LLC acquired a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 77,750 shares of the company’s stock, valued at approximately $419,000. Cubist Systematic Strategies LLC owned approximately 0.28% of ClearPoint Neuro at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ClearPoint Neuro in the second quarter worth about $175,000. Squarepoint Ops LLC acquired a new stake in shares of ClearPoint Neuro during the second quarter worth approximately $549,000. Point72 DIFC Ltd acquired a new stake in shares of ClearPoint Neuro during the second quarter worth approximately $32,000. Marshall Wace LLP boosted its holdings in shares of ClearPoint Neuro by 202.2% during the second quarter. Marshall Wace LLP now owns 58,260 shares of the company’s stock worth $314,000 after purchasing an additional 38,984 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of ClearPoint Neuro by 11.6% during the second quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock worth $70,000 after purchasing an additional 1,353 shares during the period. Institutional investors own 30.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CLPT shares. B. Riley began coverage on shares of ClearPoint Neuro in a report on Thursday, July 25th. They set a “buy” rating and a $10.00 price target for the company. Lake Street Capital raised their price objective on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th.

ClearPoint Neuro Stock Performance

Shares of CLPT opened at $11.61 on Monday. The firm has a market cap of $320.44 million, a PE ratio of -16.35 and a beta of 1.10. The firm’s 50 day moving average price is $11.25 and its 200 day moving average price is $7.90. ClearPoint Neuro, Inc. has a twelve month low of $4.05 and a twelve month high of $13.47.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. ClearPoint Neuro had a negative net margin of 64.06% and a negative return on equity of 64.23%. The company had revenue of $7.86 million for the quarter, compared to analyst estimates of $7.50 million. During the same quarter last year, the firm posted ($0.29) earnings per share. On average, sell-side analysts anticipate that ClearPoint Neuro, Inc. will post -0.65 earnings per share for the current fiscal year.

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.