ClearPoint Neuro (NASDAQ:CLPT) Sets New 1-Year High Following Analyst Upgrade

ClearPoint Neuro, Inc. (NASDAQ:CLPT) shares hit a new 52-week high during trading on Tuesday after Lake Street Capital raised their price target on the stock from $17.00 to $30.00. Lake Street Capital currently has a buy rating on the stock. ClearPoint Neuro traded as high as $18.23 and last traded at $18.81, with a volume of 340937 shares. The stock had previously closed at $15.04.

Institutional Trading of ClearPoint Neuro

Several large investors have recently modified their holdings of the company. Essex Investment Management Co. LLC grew its holdings in shares of ClearPoint Neuro by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company’s stock worth $5,200,000 after acquiring an additional 1,267 shares during the period. Geode Capital Management LLC lifted its position in ClearPoint Neuro by 1.5% during the third quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock valued at $3,222,000 after purchasing an additional 4,170 shares in the last quarter. Renaissance Technologies LLC lifted its position in ClearPoint Neuro by 562.6% during the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after purchasing an additional 144,088 shares in the last quarter. Conway Capital Management Inc. lifted its position in ClearPoint Neuro by 13.9% during the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock valued at $2,480,000 after purchasing an additional 19,725 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in ClearPoint Neuro by 1.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company’s stock valued at $2,177,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors own 30.08% of the company’s stock.

ClearPoint Neuro Price Performance

The company has a market capitalization of $494.32 million, a PE ratio of -25.97 and a beta of 1.01. The company has a 50-day moving average of $14.34 and a two-hundred day moving average of $11.96.

ClearPoint Neuro (NASDAQ:CLPT) last released its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $8.07 million. ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. During the same quarter last year, the firm posted ($0.20) earnings per share. As a group, research analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current 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.