134,540 ClearPoint Neuro, Inc. $CLPT Shares Bought by Pekin Hardy Strauss Inc.

Key Points

• Pekin Hardy Strauss increased its ClearPoint Neuro stake by 93.8% in the third quarter, buying 134,540 shares and bringing its holdings to 277,915 shares, valued at about $3.39 million.
• ClearPoint reported a quarterly loss of $0.24 per share, better than analysts’ expected $0.32 loss, but revenue of $12.07 million fell short of the $12.30 million consensus. The stock opened at $8.71, near its 52-week low.
• Analyst views are mixed, with two Buy ratings and one Sell; MarketBeat’s consensus rating is Hold, with a consensus price target of $24.33.

Pekin Hardy Strauss Inc. raised its position in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 93.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,915 shares of the company's stock after acquiring an additional 134,540 shares during the quarter. Pekin Hardy Strauss Inc. owned 0.87% of ClearPoint Neuro worth $3,393,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CLPT. Lodestone Wealth Management LLC boosted its stake in shares of ClearPoint Neuro by 10.1% in the third quarter. Lodestone Wealth Management LLC now owns 12,221 shares of the company's stock valued at $149,000 after purchasing an additional 1,123 shares during the period. Legal & General Group Plc acquired a new stake in ClearPoint Neuro during the 2nd quarter valued at $49,000. Versant Capital Management Inc increased its stake in ClearPoint Neuro by 5,568.9% during the 2nd quarter. Versant Capital Management Inc now owns 3,458 shares of the company's stock worth $62,000 after buying an additional 3,397 shares during the period. Persistent Asset Partners Ltd purchased a new stake in ClearPoint Neuro during the 2nd quarter worth $75,000. Finally, Man Group plc purchased a new stake in ClearPoint Neuro during the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 30.08% of the company's stock.

ClearPoint Neuro Trading Down 14.3%

NASDAQ CLPT opened at $8.71 on Friday. ClearPoint Neuro, Inc. has a one year low of $8.27 and a one year high of $19.63. The company has a 50-day simple moving average of $12.00 and a 200-day simple moving average of $12.90. The company has a debt-to-equity ratio of 1.86, a quick ratio of 5.77 and a current ratio of 6.76. The firm has a market capitalization of $279.03 million, a PE ratio of -7.19 and a beta of 1.38.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.32) by $0.08. The business had revenue of $12.07 million during the quarter, compared to the consensus estimate of $12.30 million. ClearPoint Neuro had a negative net margin of 79.43% and a negative return on equity of 170.24%. On average, equities analysts forecast that ClearPoint Neuro, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLPT has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of ClearPoint Neuro in a research report on Thursday, October 15th. Wall Street Zen upgraded ClearPoint Neuro from a "strong sell" rating to a "hold" rating in a research note on Saturday, October 31st. Stifel Nicolaus dropped their target price on ClearPoint Neuro from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, October 29th. Finally, Lake Street Capital set a $25.00 price target on ClearPoint Neuro in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ClearPoint Neuro has a consensus rating of "Hold" and a consensus price target of $24.33.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company that develops and commercializes platforms for minimally invasive procedures involving the brain. Its technology is designed to help physicians plan, navigate and deliver treatments with real-time magnetic resonance imaging (MRI) guidance, supporting more precise access to targeted areas of the brain.

The company's principal product is the ClearPoint Neuro Navigation System, which uses specialized software, instruments and accessories to guide neurosurgical procedures inside an MRI scanner.

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