Conway Capital Management Inc. Raises Stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Conway Capital Management Inc. grew its holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 31.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,325 shares of the company's stock after acquiring an additional 50,100 shares during the period. ClearPoint Neuro comprises about 1.3% of Conway Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position. Conway Capital Management Inc. owned about 0.76% of ClearPoint Neuro worth $2,513,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC bought a new stake in ClearPoint Neuro during the 4th quarter valued at approximately $80,000. Tower Research Capital LLC TRC bought a new stake in shares of ClearPoint Neuro during the fourth quarter valued at approximately $93,000. State of Wyoming purchased a new position in shares of ClearPoint Neuro in the fourth quarter worth $145,000. Occudo Quantitative Strategies LP purchased a new position in shares of ClearPoint Neuro in the fourth quarter worth $155,000. Finally, Two Sigma Investments LP bought a new position in shares of ClearPoint Neuro during the fourth quarter worth $159,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ClearPoint Neuro news, 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 transaction of $282,372.63. Following the completion of the transaction, the chief executive officer now directly owns 243,522 shares of the company's stock, valued at $3,236,407.38. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy T. Richards sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $13.28, for a total transaction of $132,800.00. Following the transaction, the director now owns 77,381 shares in the company, valued at $1,027,619.68. The trade was a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Wall Street Zen upgraded ClearPoint Neuro from a "sell" rating to a "hold" rating in a research report on Saturday.

ClearPoint Neuro Trading Down 3.7%

Shares of CLPT stock traded down $0.43 on Tuesday, reaching $11.17. The company's stock had a trading volume of 310,176 shares, compared to its average volume of 245,061. The stock's fifty day simple moving average is $12.83 and its 200-day simple moving average is $14.33. ClearPoint Neuro, Inc. has a 1 year low of $5.11 and a 1 year high of $19.22.

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