ClearPoint Neuro (NASDAQ:CLPT) Hits New 1-Year High – Here’s Why

ClearPoint Neuro, Inc. (NASDAQ:CLPT) reached a new 52-week high during trading on Thursday . The company traded as high as $19.22 and last traded at $18.58, with a volume of 16118 shares. The stock had previously closed at $18.80.

Analyst Ratings Changes

Several research firms have issued reports on CLPT. B. Riley boosted their price objective on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Lake Street Capital upped their price objective on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st.

ClearPoint Neuro Trading Down 3.9 %

The firm has a 50-day simple moving average of $15.87 and a 200-day simple moving average of $12.83. The firm has a market cap of $500.94 million, a P/E ratio of -26.32 and a beta of 1.03.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. The company had revenue of $8.12 million for the quarter, compared to the consensus estimate of $8.07 million. During the same period in the previous year, the business earned ($0.20) EPS. Research analysts predict that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of ClearPoint Neuro

A number of institutional investors have recently modified their holdings of CLPT. Marshall Wace LLP increased its position in shares of ClearPoint Neuro by 202.2% during the second quarter. Marshall Wace LLP now owns 58,260 shares of the company’s stock worth $314,000 after purchasing an additional 38,984 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ClearPoint Neuro during the second quarter valued at about $419,000. Essex Investment Management Co. LLC raised its position in shares of ClearPoint Neuro by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 463,853 shares of the company’s stock valued at $5,200,000 after purchasing an additional 1,267 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in ClearPoint Neuro in the 3rd quarter worth approximately $156,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ClearPoint Neuro during the 3rd quarter worth approximately $366,000. 30.08% of the stock is currently owned by institutional investors.

About ClearPoint Neuro

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.