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

Essex Investment Management Co. LLC reduced its stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 408,822 shares of the company’s stock after selling 55,031 shares during the quarter. ClearPoint Neuro makes up approximately 1.1% of Essex Investment Management Co. LLC’s portfolio, making the stock its 18th largest position. Essex Investment Management Co. LLC owned about 1.48% of ClearPoint Neuro worth $6,288,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CLPT. R Squared Ltd acquired a new stake in shares of ClearPoint Neuro during the fourth quarter worth approximately $32,000. Barclays PLC raised its position 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 acquiring an additional 1,109 shares in the last quarter. AlphaQuest LLC bought a new position in ClearPoint Neuro during the fourth quarter valued at approximately $80,000. JPMorgan Chase & Co. raised 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 acquiring an additional 3,612 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in ClearPoint Neuro during the third quarter valued at approximately $123,000. 30.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ClearPoint Neuro Stock Down 0.9 %

NASDAQ:CLPT opened at $13.07 on Friday. The company’s 50 day moving average is $16.42 and its 200-day moving average is $13.96. The firm has a market cap of $361.15 million, a price-to-earnings ratio of -18.94 and a beta of 1.06. ClearPoint Neuro, Inc. has a 12 month low of $5.11 and a 12 month high of $19.22.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $7.77 million during the quarter, compared to analyst estimates of $8.23 million. ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. Research analysts predict that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal 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.