Point72 Asia Singapore Pte. Ltd. Lowers Stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Point72 Asia Singapore Pte. Ltd. reduced its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,045 shares of the company’s stock after selling 2,075 shares during the period. Point72 Asia Singapore Pte. Ltd. owned 0.10% of ClearPoint Neuro worth $416,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in ClearPoint Neuro by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock valued at $110,000 after buying an additional 3,612 shares during the period. Conway Capital Management Inc. boosted its position in shares of ClearPoint Neuro by 13.9% during the fourth quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock worth $2,480,000 after acquiring an additional 19,725 shares during the last quarter. Barclays PLC raised its stake in ClearPoint Neuro by 24.3% during the third quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after purchasing an additional 1,109 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in ClearPoint Neuro during the fourth quarter valued at $93,000. Finally, Invesco Ltd. purchased a new stake in ClearPoint Neuro during the fourth quarter valued at $3,814,000. 30.08% of the stock is owned by hedge funds and other institutional investors.

ClearPoint Neuro Stock Up 3.9%

ClearPoint Neuro stock opened at $12.92 on Friday. ClearPoint Neuro, Inc. has a 52-week low of $5.11 and a 52-week high of $19.22. The firm has a market capitalization of $361.62 million, a price-to-earnings ratio of -18.72 and a beta of 1.03. The company has a fifty day simple moving average of $12.86 and a 200-day simple moving average of $14.22.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). The company had revenue of $8.49 million during the quarter, compared to analyst estimates of $8.21 million. ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. On average, research analysts anticipate that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of ClearPoint Neuro from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. B. Riley raised their price target on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Lake Street Capital lifted their target price 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.

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.