Conway Capital Management Inc. Takes Position in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Conway Capital Management Inc. bought a new position in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 141,500 shares of the company's stock, valued at approximately $1,586,000. ClearPoint Neuro makes up about 0.8% of Conway Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest position. Conway Capital Management Inc. owned 0.51% of ClearPoint Neuro at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in ClearPoint Neuro by 7.9% during 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. Legato Capital Management LLC lifted its position in shares of ClearPoint Neuro by 21.6% in the 2nd quarter. Legato Capital Management LLC now owns 158,968 shares of the company's stock valued at $857,000 after acquiring an additional 28,227 shares in the last quarter. Rinkey Investments acquired a new position in ClearPoint Neuro in the 2nd quarter worth approximately $307,000. Renaissance Technologies LLC grew its position in ClearPoint Neuro by 562.6% during the 2nd quarter. Renaissance Technologies LLC now owns 169,700 shares of the company's stock worth $915,000 after purchasing an additional 144,088 shares in the last quarter. Finally, XTX Topco Ltd raised 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 valued at $70,000 after purchasing an additional 1,353 shares during the period. 30.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Lake Street Capital increased their price objective on ClearPoint Neuro from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, August 27th.

ClearPoint Neuro Stock Up 13.8 %

NASDAQ CLPT traded up $2.02 during trading on Tuesday, hitting $16.68. The company's stock had a trading volume of 966,621 shares, compared to its average volume of 192,137. ClearPoint Neuro, Inc. has a 52 week low of $5.11 and a 52 week high of $17.47. The firm has a market cap of $460.12 million, a P/E ratio of -24.17 and a beta of 1.08. The firm has a 50 day moving average price of $12.22 and a 200 day moving average price of $9.80.

ClearPoint Neuro 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.