Essex Investment Management Co. LLC Grows Stock Position in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Essex Investment Management Co. LLC boosted its holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 463,853 shares of the company’s stock after buying an additional 1,267 shares during the quarter. ClearPoint Neuro makes up about 0.9% of Essex Investment Management Co. LLC’s holdings, making the stock its 29th largest position. Essex Investment Management Co. LLC’s holdings in ClearPoint Neuro were worth $5,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its stake in ClearPoint Neuro by 11.6% during the 2nd 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. Price T Rowe Associates Inc. MD boosted its stake in shares of ClearPoint Neuro by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock valued at $170,000 after buying an additional 1,813 shares in the last quarter. Point72 DIFC Ltd acquired a new position in ClearPoint Neuro during the second quarter worth $32,000. Legato Capital Management LLC grew its holdings in ClearPoint Neuro by 21.6% during the second quarter. Legato Capital Management LLC now owns 158,968 shares of the company’s stock worth $857,000 after acquiring an additional 28,227 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in ClearPoint Neuro in the second quarter valued at $175,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Lake Street Capital lifted their price target on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. B. Riley started coverage on ClearPoint Neuro in a report on Thursday, July 25th. They issued a “buy” rating and a $10.00 price objective on the stock.

ClearPoint Neuro Stock Performance

Shares of CLPT stock traded up $0.22 during trading hours on Friday, hitting $11.61. 121,877 shares of the company were exchanged, compared to its average volume of 177,442. The stock has a market capitalization of $320.44 million, a price-to-earnings ratio of -16.35 and a beta of 1.10. The business’s 50-day simple moving average is $11.25 and its two-hundred day simple moving average is $7.89. ClearPoint Neuro, Inc. has a one year low of $4.05 and a one year high of $13.47.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The business had revenue of $7.86 million for the quarter, compared to analysts’ expectations of $7.50 million. ClearPoint Neuro had a negative net margin of 64.06% and a negative return on equity of 64.23%. During the same period in the previous year, the business earned ($0.29) earnings per share. As a group, analysts anticipate that ClearPoint Neuro, Inc. will post -0.65 EPS for the current fiscal year.

About ClearPoint Neuro

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.