ClearPoint Neuro (NASDAQ:CLPT) Shares Up 8.5% - Time to Buy?

ClearPoint Neuro, Inc. (NASDAQ:CLPT - Get Free Report) shares shot up 8.5% on Tuesday . The company traded as high as $18.30 and last traded at $18.39. 160,659 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 219,174 shares. The stock had previously closed at $16.95.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLPT. Lake Street Capital lifted their price objective on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. B. Riley lifted their price target on ClearPoint Neuro from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th.

ClearPoint Neuro Price Performance

The company's 50 day simple moving average is $15.87 and its 200 day simple moving average is $12.86. The company has a market capitalization of $500.94 million, a PE ratio of -26.32 and a beta of 1.03.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. The company had revenue of $8.12 million during the quarter, compared to analysts' expectations of $8.07 million. During the same period last year, the business earned ($0.20) earnings per share. On average, equities analysts forecast that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

Institutional Trading of ClearPoint Neuro

Several institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC boosted its stake in ClearPoint Neuro by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company's stock worth $5,200,000 after purchasing an additional 1,267 shares during the period. Geode Capital Management LLC boosted its stake 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 buying an additional 4,170 shares during the period. Conway Capital Management Inc. grew 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 buying an additional 19,725 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in ClearPoint Neuro by 1.9% in the 4th quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company's stock valued at $2,177,000 after acquiring an additional 2,600 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in ClearPoint Neuro in the 2nd quarter valued at about $419,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

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.