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ClearPoint Neuro, Inc. $CLPT Shares Sold by Conway Capital Management Inc.

ClearPoint Neuro logo with Medical background

Key Points

  • Conway Capital Management Inc. reduced its holdings in ClearPoint Neuro, Inc. by 22.3% in Q2, now owning 164,225 shares worth approximately $1.96 million.
  • CEO Joseph Burnett sold 26,463 shares at an average price of $26.98, resulting in a decrease of his ownership by almost 10.87%.
  • Analysts have mixed ratings on the stock, with Wall Street Zen upgrading it to a "hold" and Stifel Nicolaus raising the price target to $9.00, amidst a consensus target price of $19.67.
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Conway Capital Management Inc. decreased its holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 22.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 164,225 shares of the company's stock after selling 47,100 shares during the quarter. ClearPoint Neuro makes up 0.9% of Conway Capital Management Inc.'s portfolio, making the stock its 19th biggest position. Conway Capital Management Inc. owned 0.59% of ClearPoint Neuro worth $1,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MGO One Seven LLC grew its stake in ClearPoint Neuro by 9.6% during the 2nd quarter. MGO One Seven LLC now owns 17,949 shares of the company's stock valued at $214,000 after purchasing an additional 1,569 shares in the last quarter. Parsons Capital Management Inc. RI boosted its stake in shares of ClearPoint Neuro by 0.7% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 143,486 shares of the company's stock valued at $1,713,000 after buying an additional 950 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of ClearPoint Neuro by 98.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company's stock valued at $3,066,000 after buying an additional 127,823 shares during the last quarter. Millennium Management LLC grew its position in shares of ClearPoint Neuro by 156.3% during the first quarter. Millennium Management LLC now owns 741,193 shares of the company's stock worth $8,813,000 after buying an additional 452,043 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in shares of ClearPoint Neuro by 8.0% in the first quarter. Trexquant Investment LP now owns 84,653 shares of the company's stock worth $1,007,000 after buying an additional 6,291 shares during the last quarter. Hedge funds and other institutional investors own 30.08% of the company's stock.

Insider Buying and Selling

In related news, CEO Joseph Burnett sold 26,463 shares of the company's stock in a transaction on Friday, October 10th. The stock was sold at an average price of $26.98, for a total transaction of $713,971.74. Following the completion of the transaction, the chief executive officer directly owned 217,059 shares in the company, valued at $5,856,251.82. This represents a 10.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of ClearPoint Neuro from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of ClearPoint Neuro in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus increased their price target on shares of ClearPoint Neuro from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, ClearPoint Neuro has an average rating of "Moderate Buy" and a consensus target price of $19.67.

View Our Latest Stock Report on CLPT

ClearPoint Neuro Price Performance

Shares of NASDAQ:CLPT opened at $25.38 on Friday. The company has a quick ratio of 6.45, a current ratio of 7.30 and a debt-to-equity ratio of 1.46. ClearPoint Neuro, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $30.10. The firm has a 50-day simple moving average of $15.81 and a 200 day simple moving average of $13.38. The company has a market cap of $721.55 million, a PE ratio of -31.33 and a beta of 1.19.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued 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). The business had revenue of $9.22 million during the quarter, compared to the consensus estimate of $9.20 million. ClearPoint Neuro had a negative return on equity of 94.44% and a negative net margin of 66.15%. ClearPoint Neuro has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

ClearPoint Neuro Profile

(Free Report)

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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Institutional Ownership by Quarter for ClearPoint Neuro (NASDAQ:CLPT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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