Conway Capital Management Inc. lifted its stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Free Report) by 31.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,325 shares of the company's stock after acquiring an additional 50,100 shares during the period. ClearPoint Neuro accounts for approximately 1.3% of Conway Capital Management Inc.'s portfolio, making the stock its 18th biggest holding. Conway Capital Management Inc. owned 0.76% of ClearPoint Neuro worth $2,513,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLPT. Vanguard Group Inc. lifted its stake in shares of ClearPoint Neuro by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company's stock valued at $19,200,000 after buying an additional 5,400 shares during the period. Millennium Management LLC grew its holdings in ClearPoint Neuro by 5.0% in the fourth quarter. Millennium Management LLC now owns 289,150 shares of the company's stock valued at $4,447,000 after purchasing an additional 13,866 shares during the period. D. E. Shaw & Co. Inc. increased its position in ClearPoint Neuro by 27.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,409 shares of the company's stock worth $4,436,000 after purchasing an additional 62,889 shares during the last quarter. Invesco Ltd. purchased a new position in ClearPoint Neuro during the fourth quarter worth approximately $3,814,000. Finally, Jane Street Group LLC raised its stake in ClearPoint Neuro by 119.6% during the fourth quarter. Jane Street Group LLC now owns 222,307 shares of the company's stock worth $3,419,000 after purchasing an additional 121,083 shares during the period. Hedge funds and other institutional investors own 30.08% of the company's stock.
Insiders Place Their Bets
In other ClearPoint Neuro news, Director Timothy T. Richards sold 10,000 shares of the firm'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 of the company's stock, valued at approximately $1,027,619.68. This trade represents a 11.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Burnett sold 21,247 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $13.29, for a total value of $282,372.63. Following the sale, the chief executive officer now directly owns 243,522 shares in the company, valued at approximately $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 Trading Up 0.7%
CLPT stock traded up $0.08 during trading on Thursday, reaching $11.25. The stock had a trading volume of 187,370 shares, compared to its average volume of 245,291. The firm has a fifty day moving average price of $12.80 and a 200 day moving average price of $14.29. The company has a market capitalization of $314.88 million, a P/E ratio of -14.80 and a beta of 0.93. 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 issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). ClearPoint Neuro had a negative return on equity of 78.09% and a negative net margin of 64.51%. The company had revenue of $8.49 million during the quarter, compared to the consensus estimate of $8.21 million. Sell-side analysts predict that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.
Analysts Set New Price Targets
Several research analysts recently weighed in on CLPT shares. Stifel Nicolaus increased their target price on 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 upgraded shares of ClearPoint Neuro from a "sell" rating to a "hold" rating in a report on Saturday, June 14th.
Check Out Our Latest Stock Report on ClearPoint Neuro
About ClearPoint Neuro
(
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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