Essex Investment Management Co. LLC Has $6.29 Million Position in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Essex Investment Management Co. LLC lowered its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,822 shares of the company’s stock after selling 55,031 shares during the period. ClearPoint Neuro comprises 1.1% of Essex Investment Management Co. LLC’s portfolio, making the stock its 18th largest holding. Essex Investment Management Co. LLC’s holdings in ClearPoint Neuro were worth $6,288,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at $156,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at $366,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at $541,000. Verition Fund Management LLC acquired a new stake in shares of ClearPoint Neuro in the 3rd quarter valued at $123,000. Finally, XTX Topco Ltd boosted its stake in shares of ClearPoint Neuro by 53.0% in the 3rd quarter. XTX Topco Ltd now owns 19,900 shares of the company’s stock valued at $223,000 after purchasing an additional 6,890 shares in the last quarter. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Stock Down 0.9 %

ClearPoint Neuro stock opened at $13.07 on Friday. The stock has a 50-day simple moving average of $16.42 and a 200 day simple moving average of $13.96. ClearPoint Neuro, Inc. has a 12-month low of $5.11 and a 12-month high of $19.22. The stock has a market capitalization of $361.15 million, a price-to-earnings ratio of -18.94 and a beta of 1.06.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. The business had revenue of $7.77 million during the quarter, compared to the consensus estimate of $8.23 million. As a group, sell-side analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

Analysts Set New Price Targets

CLPT has been the topic of several recent analyst reports. Lake Street Capital boosted their target price on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. B. Riley boosted their target price on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th.

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.