ClearPoint Neuro (NASDAQ:CLPT) Sets New 12-Month High After 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 traded. The stock had previously closed at $15.04.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Conway Capital Management Inc. increased its holdings in shares of ClearPoint Neuro by 13.9% during the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock worth $2,480,000 after purchasing an additional 19,725 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ClearPoint Neuro by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock worth $110,000 after purchasing an additional 3,612 shares during the period. Barclays PLC increased its holdings in shares of ClearPoint Neuro by 24.3% during the third quarter. Barclays PLC now owns 5,674 shares of the company’s stock worth $64,000 after purchasing an additional 1,109 shares during the period. Geode Capital Management LLC increased its holdings in shares of ClearPoint Neuro by 1.5% during the third quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock worth $3,222,000 after purchasing an additional 4,170 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of ClearPoint Neuro by 53.0% during the third quarter. XTX Topco Ltd now owns 19,900 shares of the company’s stock worth $223,000 after purchasing an additional 6,890 shares during the period. 30.08% of the stock is owned by institutional investors.

ClearPoint Neuro Stock Up 22.5 %

The business’s 50 day moving average is $14.20 and its 200-day moving average is $11.92. The firm has a market capitalization of $508.02 million, a P/E ratio of -26.70 and a beta of 1.01.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The firm had revenue of $8.12 million during the quarter, compared to the consensus estimate 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 period last year, the business earned ($0.20) earnings per share. Research analysts forecast that ClearPoint Neuro, Inc. will post -0.66 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.