ClearPoint Neuro, Inc. (NASDAQ:CLPT) Shares Sold by CM Management LLC

Key Points

• CM Management LLC has reduced its stake in ClearPoint Neuro, Inc. by 39.7%, now holding 175,000 shares after selling 115,000 shares in the first quarter.
• Other institutional investors such as Bank of America Corp DE and Lane Generational LLC have increased their holdings in ClearPoint Neuro, indicating ongoing interest in the stock.
• Analysts have mixed views on ClearPoint Neuro, with Wall Street Zen downgrading it to a "sell" rating while Stifel Nicolaus upgraded its target price to $9.00 and maintained a "buy" rating.

CM Management LLC cut its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 39.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,000 shares of the company's stock after selling 115,000 shares during the period. ClearPoint Neuro comprises about 2.1% of CM Management LLC's investment portfolio, making the stock its 20th biggest holding. CM Management LLC owned approximately 0.63% of ClearPoint Neuro worth $2,081,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of ClearPoint Neuro by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock worth $19,200,000 after purchasing an additional 5,400 shares during the last quarter. Millennium Management LLC grew its stake in ClearPoint Neuro by 5.0% in the fourth quarter. Millennium Management LLC now owns 289,150 shares of the company's stock worth $4,447,000 after purchasing an additional 13,866 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in ClearPoint Neuro by 27.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,409 shares of the company's stock valued at $4,436,000 after buying an additional 62,889 shares during the last quarter. Invesco Ltd. acquired a new stake in ClearPoint Neuro during the fourth quarter valued at approximately $3,814,000. Finally, Lane Generational LLC lifted its holdings in ClearPoint Neuro by 53.5% during the 1st quarter. Lane Generational LLC now owns 242,045 shares of the company's stock worth $2,878,000 after buying an additional 84,350 shares during the last quarter. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered ClearPoint Neuro from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Stifel Nicolaus increased their target price on shares of ClearPoint Neuro from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, August 1st.

ClearPoint Neuro Price Performance

NASDAQ:CLPT traded down $0.10 during midday trading on Friday, reaching $10.82. 255,179 shares of the company traded hands, compared to its average volume of 393,020. ClearPoint Neuro, Inc. has a twelve month low of $8.64 and a twelve month high of $19.22. The company has a fifty day moving average price of $11.58 and a 200 day moving average price of $13.27. The firm has a market capitalization of $302.85 million, a price-to-earnings ratio of -14.24 and a beta of 0.85.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.07). The firm had revenue of $8.49 million for the quarter, compared to the consensus estimate of $8.21 million. ClearPoint Neuro had a negative return on equity of 78.09% and a negative net margin of 64.51%. On average, equities research analysts forecast that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity at ClearPoint Neuro

In related news, Director Timothy T. Richards sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $13.28, for a total value of $132,800.00. Following the completion of the transaction, the director directly owned 77,381 shares of the company's stock, valued at $1,027,619.68. This represents a 11.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph Burnett sold 21,247 shares of ClearPoint Neuro 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 sale, the chief executive officer directly owned 243,522 shares in the company, valued at $3,236,407.38. The trade was a 8.02% decrease in their position. The disclosure for this sale can be found here. 6.97% of the stock is currently owned by company insiders.

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.