Quantinno Capital Management LP grew its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT – Free Report) by 307.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,947 shares of the company’s stock after buying an additional 39,195 shares during the period. Quantinno Capital Management LP owned 0.17% of ClearPoint Neuro worth $473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CLPT. Millennium Management LLC lifted its position in ClearPoint Neuro by 156.3% during the 1st quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after acquiring an additional 452,043 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ClearPoint Neuro by 98.3% during the first quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company’s stock valued at $3,066,000 after purchasing an additional 127,823 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ClearPoint Neuro by 35.4% during the second quarter. JPMorgan Chase & Co. now owns 32,790 shares of the company’s stock valued at $392,000 after purchasing an additional 8,581 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $35,000. Finally, Rhumbline Advisers purchased a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $450,000. 30.08% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at ClearPoint Neuro
In other ClearPoint Neuro news, Director Timothy T. Richards sold 5,415 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $12.17, for a total transaction of $65,900.55. Following the sale, the director directly owned 87,198 shares in the company, valued at approximately $1,061,199.66. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Burnett sold 20,000 shares of ClearPoint Neuro stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.38, for a total value of $387,600.00. Following the completion of the sale, the chief executive officer directly owned 116,842 shares of the company’s stock, valued at approximately $2,264,397.96. The trade was a 14.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 87,258 shares of company stock worth $1,553,964. Company insiders own 6.94% of the company’s stock.
ClearPoint Neuro Stock Up 1.3%
ClearPoint Neuro (NASDAQ:CLPT – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.09). ClearPoint Neuro had a negative net margin of 81.76% and a negative return on equity of 188.09%. The firm had revenue of $10.88 million for the quarter, compared to analysts’ expectations of $12.73 million. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, analysts anticipate that ClearPoint Neuro, Inc. will post -1.29 EPS for the current fiscal year.
Wall Street Analyst Weigh In
CLPT has been the topic of several recent research reports. B. Riley Financial upped their price target on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Stifel Nicolaus set a $22.00 target price on ClearPoint Neuro in a report on Tuesday, August 4th. Lake Street Capital set a $25.00 target price on ClearPoint Neuro in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut ClearPoint Neuro from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ClearPoint Neuro currently has a consensus rating of “Hold” and a consensus price target of $25.67.
Get Our Latest Analysis on ClearPoint Neuro
ClearPoint Neuro Company Profile
ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.
The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.
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