Renaissance Technologies LLC Acquires 144,088 Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Renaissance Technologies LLC raised its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 562.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,700 shares of the company's stock after purchasing an additional 144,088 shares during the period. Renaissance Technologies LLC owned 0.62% of ClearPoint Neuro worth $915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rinkey Investments bought a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $307,000. Legato Capital Management LLC increased its position in shares of ClearPoint Neuro by 21.6% during the second 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. AWM Investment Company Inc. bought a new stake in shares of ClearPoint Neuro during the first quarter valued at approximately $894,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 acquiring an additional 1,813 shares in the last quarter. Finally, CM Management LLC increased its position in shares of ClearPoint Neuro by 87.5% during the first quarter. CM Management LLC now owns 375,000 shares of the company's stock valued at $2,550,000 after acquiring an additional 175,000 shares in the last quarter. Institutional investors own 30.08% of the company's stock.

ClearPoint Neuro Stock Performance

Shares of ClearPoint Neuro stock traded up $0.82 on Tuesday, hitting $11.62. 203,034 shares of the company's stock were exchanged, compared to its average volume of 177,978. The company has a 50-day simple moving average of $10.87 and a 200-day simple moving average of $7.76. The stock has a market capitalization of $318.62 million, a PE ratio of -12.86 and a beta of 1.10. ClearPoint Neuro, Inc. has a 1 year low of $4.05 and a 1 year high of $13.47.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $7.86 million for the quarter, compared to analysts' expectations of $7.50 million. ClearPoint Neuro had a negative net margin of 64.06% and a negative return on equity of 64.23%. During the same quarter last year, the company posted ($0.29) EPS. On average, analysts expect that ClearPoint Neuro, Inc. will post -0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLPT has been the subject of several analyst reports. Lake Street Capital raised their price target on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, August 27th. B. Riley initiated coverage on shares of ClearPoint Neuro in a report on Thursday, July 25th. They issued a "buy" rating and a $10.00 target price on the stock.

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.