Bank of America Corp DE Buys 28,742 Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Bank of America Corp DE raised its position in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 211.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,307 shares of the company's stock after purchasing an additional 28,742 shares during the quarter. Bank of America Corp DE owned 0.15% of ClearPoint Neuro worth $651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in ClearPoint Neuro in the 4th quarter valued at approximately $93,000. Barclays PLC raised its holdings in shares of ClearPoint Neuro by 1,070.9% in the fourth quarter. Barclays PLC now owns 66,436 shares of the company's stock valued at $1,022,000 after purchasing an additional 60,762 shares during the last quarter. Invesco Ltd. bought a new stake in shares of ClearPoint Neuro in the fourth quarter worth $3,814,000. Ameriprise Financial Inc. boosted its holdings in ClearPoint Neuro by 7.1% during the fourth quarter. Ameriprise Financial Inc. now owns 41,316 shares of the company's stock worth $635,000 after purchasing an additional 2,742 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in ClearPoint Neuro by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock valued at $19,200,000 after purchasing an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 30.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Wall Street Zen lowered ClearPoint Neuro from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Insider Activity

In other ClearPoint Neuro news, Director Timothy T. Richards sold 10,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $13.28, for a total transaction of $132,800.00. Following the completion of the transaction, the director now directly owns 77,381 shares of the company's stock, valued at approximately $1,027,619.68. This represents a 11.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph Burnett sold 21,247 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $13.29, for a total value of $282,372.63. Following the transaction, the chief executive officer now directly owns 243,522 shares in the company, valued at $3,236,407.38. This represents a 8.02% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.97% of the company's stock.

ClearPoint Neuro Stock Down 4.5%

Shares of CLPT stock traded down $0.54 during trading on Friday, reaching $11.54. 300,395 shares of the company's stock were exchanged, compared to its average volume of 258,369. The firm's fifty day moving average price is $12.79 and its 200-day moving average price is $14.31. ClearPoint Neuro, Inc. has a twelve month low of $5.11 and a twelve month high of $19.22. The stock has a market capitalization of $322.99 million, a PE ratio of -16.72 and a beta of 0.93.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). The firm had revenue of $8.49 million during the quarter, compared to analyst estimates of $8.21 million. ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. As a group, analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

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.