ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Down 6.3% in May

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,200,000 shares, a decrease of 6.3% from the May 15th total of 1,280,000 shares. Based on an average daily trading volume, of 144,500 shares, the short-interest ratio is currently 8.3 days.

Institutional Trading of ClearPoint Neuro

A number of institutional investors have recently made changes to their positions in CLPT. Cahill Wealth Management LLC raised its position in shares of ClearPoint Neuro by 23.5% in the 4th quarter. Cahill Wealth Management LLC now owns 232,263 shares of the company’s stock valued at $1,577,000 after purchasing an additional 44,179 shares during the last quarter. Lane Generational LLC increased its stake in ClearPoint Neuro by 16.4% during the 4th quarter. Lane Generational LLC now owns 174,291 shares of the company’s stock valued at $1,183,000 after purchasing an additional 24,512 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of ClearPoint Neuro by 20.3% in the first quarter. Taylor Frigon Capital Management LLC now owns 424,097 shares of the company’s stock worth $2,884,000 after buying an additional 71,491 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of ClearPoint Neuro during the first quarter worth $2,243,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of ClearPoint Neuro by 23,048.0% during the first quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock worth $315,000 after buying an additional 46,096 shares during the period. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Stock Performance

NASDAQ:CLPT opened at $5.25 on Wednesday. The company’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $6.46. ClearPoint Neuro has a fifty-two week low of $4.05 and a fifty-two week high of $7.97. The stock has a market capitalization of $143.96 million, a P/E ratio of -6.25 and a beta of 1.05.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Tuesday, May 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 78.84% and a negative return on equity of 76.92%. The company had revenue of $7.64 million during the quarter, compared to analysts’ expectations of $7.04 million. On average, research analysts forecast that ClearPoint Neuro will post -0.63 EPS for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reaffirmed a “buy” rating and set a $9.00 target price (up previously from $8.00) on shares of ClearPoint Neuro in a research report on Wednesday, March 13th.

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.