683 Capital Management LLC Invests $836,000 in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

683 Capital Management LLC acquired a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,387 shares of the company's stock, valued at approximately $836,000. 683 Capital Management LLC owned 0.20% of ClearPoint Neuro as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of ClearPoint Neuro by 58.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company's stock valued at $110,000 after buying an additional 3,612 shares during the period. Barclays PLC lifted its holdings in ClearPoint Neuro by 24.3% in the third quarter. Barclays PLC now owns 5,674 shares of the company's stock valued at $64,000 after acquiring an additional 1,109 shares during the period. Conway Capital Management Inc. boosted its position in ClearPoint Neuro by 13.9% in 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 last quarter. Geode Capital Management LLC increased its position in shares of ClearPoint Neuro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,294 shares of the company's stock valued at $3,222,000 after purchasing an additional 4,170 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of ClearPoint Neuro during the 4th quarter valued at about $3,814,000. Hedge funds and other institutional investors own 30.08% of the company's stock.

ClearPoint Neuro Price Performance

Shares of NASDAQ:CLPT opened at $13.91 on Friday. The company has a market capitalization of $389.20 million, a P/E ratio of -20.16 and a beta of 0.97. ClearPoint Neuro, Inc. has a 1-year low of $5.11 and a 1-year high of $19.22. The firm's 50 day simple moving average is $12.97 and its two-hundred day simple moving average is $14.15.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLPT. B. Riley boosted their target price on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their price target on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, Lake Street Capital upped their price objective on ClearPoint Neuro from $17.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st.

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.

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