ClearPoint Neuro (NASDAQ:CLPT) Sets New 1-Year High - Here's What Happened

Key Points

• ClearPoint Neuro's stock reached a new 52-week high of $21.57 during trading, closing at $19.74 with over 3.7 million shares traded.
• Wall Street analysts have a consensus rating of "Buy" for ClearPoint Neuro, with an average target price set at $19.67, reflecting confidence in its performance.
• Institutional investors have significantly increased their stakes in ClearPoint Neuro, with several hedge funds raising their positions by over 2,000% in recent quarters.

ClearPoint Neuro, Inc. (NASDAQ:CLPT - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.57 and last traded at $19.74, with a volume of 3745747 shares changing hands. The stock had previously closed at $19.28.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of ClearPoint Neuro from $8.00 to $9.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of ClearPoint Neuro from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $19.67.

ClearPoint Neuro Trading Up 2.4%

The company has a current ratio of 7.30, a quick ratio of 6.45 and a debt-to-equity ratio of 1.46. The company has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $12.03. The firm has a market cap of $561.21 million, a PE ratio of -24.37 and a beta of 0.89.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). ClearPoint Neuro had a negative net margin of 66.15% and a negative return on equity of 94.44%. The business had revenue of $9.22 million for the quarter, compared to analysts' expectations of $9.20 million. ClearPoint Neuro has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLPT. Allworth Financial LP lifted its position in shares of ClearPoint Neuro by 3,076.9% during the 2nd quarter. Allworth Financial LP now owns 2,065 shares of the company's stock valued at $25,000 after buying an additional 2,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in ClearPoint Neuro by 2,435.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company's stock valued at $27,000 after purchasing an additional 2,143 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in ClearPoint Neuro in the 2nd quarter valued at $32,000. Legal & General Group Plc acquired a new position in ClearPoint Neuro in the 2nd quarter valued at $35,000. Finally, PNC Financial Services Group Inc. acquired a new position in ClearPoint Neuro in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 30.08% of the company's stock.

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.

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