ClearPoint Neuro (NASDAQ:CLPT) Stock Price Up 8.5% – Still a Buy?

ClearPoint Neuro, Inc. (NASDAQ:CLPT)’s stock price traded up 8.5% during mid-day trading on Tuesday . The company traded as high as $18.30 and last traded at $18.39. 160,659 shares changed hands during trading, a decline of 27% from the average session volume of 219,174 shares. The stock had previously closed at $16.95.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Lake Street Capital boosted their price target 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. B. Riley boosted their price objective on ClearPoint Neuro from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th.

ClearPoint Neuro Stock Up 8.4 %

The firm has a market capitalization of $506.64 million, a price-to-earnings ratio of -26.62 and a beta of 1.03. The stock has a 50-day moving average price of $15.36 and a 200 day moving average price of $12.58.

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

Hedge Funds Weigh In On ClearPoint Neuro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC boosted its holdings in ClearPoint Neuro by 0.3% in the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ClearPoint Neuro by 1.5% in the third quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock valued at $3,222,000 after acquiring an additional 4,170 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of ClearPoint Neuro by 562.6% in the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after acquiring an additional 144,088 shares during the period. Conway Capital Management Inc. boosted its holdings in shares of ClearPoint Neuro by 13.9% in the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock valued at $2,480,000 after acquiring an additional 19,725 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its holdings in shares of ClearPoint Neuro by 1.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 141,573 shares of the company’s stock valued at $2,177,000 after acquiring an additional 2,600 shares during the period. 30.08% of the stock is owned by institutional investors and hedge funds.

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.