Parsons Capital Management Inc. RI Increases Stock Holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Parsons Capital Management Inc. RI increased its holdings in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 0.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 142,536 shares of the company’s stock after acquiring an additional 963 shares during the period. Parsons Capital Management Inc. RI’s holdings in ClearPoint Neuro were worth $1,695,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLPT. NewEdge Advisors LLC raised its stake in ClearPoint Neuro by 7.3% in the 4th quarter. NewEdge Advisors LLC now owns 21,114 shares of the company’s stock valued at $325,000 after purchasing an additional 1,431 shares during the last quarter. LPL Financial LLC raised its stake in ClearPoint Neuro by 4.5% in the 4th quarter. LPL Financial LLC now owns 40,250 shares of the company’s stock valued at $619,000 after purchasing an additional 1,750 shares during the last quarter. Ameriprise Financial Inc. raised its stake in ClearPoint Neuro by 7.1% in the 4th quarter. Ameriprise Financial Inc. now owns 41,316 shares of the company’s stock valued at $635,000 after purchasing an additional 2,742 shares during the last quarter. AlphaQuest LLC acquired a new position in ClearPoint Neuro in the 4th quarter valued at $80,000. Finally, Vanguard Group Inc. raised its stake in ClearPoint Neuro by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,248,393 shares of the company’s stock valued at $19,200,000 after purchasing an additional 5,400 shares during the last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLPT shares. Wall Street Zen downgraded ClearPoint Neuro from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised their target price on ClearPoint Neuro from $19.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st.

ClearPoint Neuro Stock Performance

Shares of CLPT opened at $13.29 on Wednesday. The stock has a 50-day simple moving average of $12.73 and a 200-day simple moving average of $14.31. The stock has a market capitalization of $371.97 million, a PE ratio of -19.26 and a beta of 0.93. ClearPoint Neuro, Inc. has a 1 year low of $5.11 and a 1 year high of $19.22.

ClearPoint Neuro (NASDAQ:CLPT) last issued its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The business had revenue of $8.49 million for the quarter, compared to analyst estimates of $8.21 million. Analysts predict that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

ClearPoint Neuro 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.