ClearPoint Neuro (NASDAQ:CLPT) Price Target Raised to $30.00 at Lake Street Capital

ClearPoint Neuro (NASDAQ:CLPT) had its price objective upped by Lake Street Capital from $17.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s target price points to a potential upside of 69.86% from the company’s current price.

ClearPoint Neuro Stock Up 17.4 %

ClearPoint Neuro stock traded up $2.62 during midday trading on Tuesday, reaching $17.66. The company’s stock had a trading volume of 222,570 shares, compared to its average volume of 192,595. The company has a market cap of $487.12 million, a P/E ratio of -25.50 and a beta of 1.01. ClearPoint Neuro has a fifty-two week low of $5.11 and a fifty-two week high of $17.62. The business has a 50-day simple moving average of $14.05 and a 200-day simple moving average of $11.83.

Institutional Trading of ClearPoint Neuro

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Conway Capital Management Inc. increased its position in ClearPoint Neuro by 13.9% in the 4th quarter. Conway Capital Management Inc. now owns 161,225 shares of the company’s stock valued at $2,480,000 after acquiring an additional 19,725 shares during the period. JPMorgan Chase & Co. raised its holdings in ClearPoint Neuro by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock worth $110,000 after purchasing an additional 3,612 shares during the last quarter. Barclays PLC increased its stake in shares of ClearPoint Neuro by 24.3% during the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock worth $64,000 after purchasing an additional 1,109 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ClearPoint Neuro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,294 shares of the company’s stock worth $3,222,000 after purchasing an additional 4,170 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in 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 buying an additional 6,890 shares in the last quarter. 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.