Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Grows By 10.5%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 759,900 shares, an increase of 10.5% from the October 31st total of 687,600 shares. Based on an average trading volume of 209,700 shares, the days-to-cover ratio is currently 3.6 days.

ClearPoint Neuro Trading Down 1.1 %

Shares of NASDAQ:CLPT traded down $0.13 during trading on Monday, hitting $12.24. 135,460 shares of the company were exchanged, compared to its average volume of 187,919. ClearPoint Neuro has a fifty-two week low of $5.11 and a fifty-two week high of $14.13. The stock has a market cap of $337.64 million, a price-to-earnings ratio of -17.93 and a beta of 1.10. The firm has a fifty day moving average price of $11.90 and a two-hundred day moving average price of $9.44.

Analysts Set New Price Targets

Separately, Lake Street Capital upped their target price on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

Institutional Investors Weigh In On ClearPoint Neuro

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in ClearPoint Neuro by 562.6% during the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after purchasing an additional 144,088 shares in the last quarter. Conway Capital Management Inc. acquired a new position in ClearPoint Neuro during the 3rd quarter worth about $1,586,000. Squarepoint Ops LLC acquired a new position in ClearPoint Neuro in the second quarter valued at $549,000. Cubist Systematic Strategies LLC acquired a new stake in ClearPoint Neuro during the second quarter worth approximately $419,000. Finally, Rinkey Investments acquired a new position in shares of ClearPoint Neuro during the second quarter valued at about $307,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

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.