ClearPoint Neuro, Inc. (NASDAQ:CLPT) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC trimmed its holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,822 shares of the company's stock after selling 55,031 shares during the quarter. ClearPoint Neuro comprises approximately 1.1% of Essex Investment Management Co. LLC's portfolio, making the stock its 18th largest holding. Essex Investment Management Co. LLC owned approximately 1.48% of ClearPoint Neuro worth $6,288,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CLPT. AlphaQuest LLC purchased a new stake in shares of ClearPoint Neuro during the 4th quarter valued at approximately $80,000. Bradley Foster & Sargent Inc. CT purchased a new stake in ClearPoint Neuro in the fourth quarter valued at $871,000. R Squared Ltd acquired a new position in shares of ClearPoint Neuro in the 4th quarter valued at $32,000. Parsons Capital Management Inc. RI grew its holdings in shares of ClearPoint Neuro by 1.9% during the 4th quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company's stock worth $2,177,000 after purchasing an additional 2,600 shares during the period. Finally, Conway Capital Management Inc. increased its position in shares of ClearPoint Neuro by 13.9% during the 4th 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 last quarter. Hedge funds and other institutional investors own 30.08% of the company's stock.

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ClearPoint Neuro Stock Up 3.7 %

NASDAQ CLPT traded up $0.47 during trading on Wednesday, hitting $13.17. The stock had a trading volume of 65,982 shares, compared to its average volume of 242,151. The company has a market capitalization of $363.91 million, a PE ratio of -19.09 and a beta of 1.06. ClearPoint Neuro, Inc. has a twelve month low of $5.11 and a twelve month high of $19.22. The firm has a 50 day moving average price of $16.30 and a 200 day moving average price of $13.99.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The business had revenue of $7.77 million during the quarter, compared to analyst estimates of $8.23 million. ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. On average, sell-side analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current year.

Analysts Set New Price Targets

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

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.