Taylor Frigon Capital Management LLC Has $4.20 Million Position in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Taylor Frigon Capital Management LLC reduced its position in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 11.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 374,797 shares of the company’s stock after selling 49,738 shares during the period. ClearPoint Neuro accounts for approximately 2.1% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 5th largest holding. Taylor Frigon Capital Management LLC owned approximately 1.37% of ClearPoint Neuro worth $4,201,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Rinkey Investments purchased a new stake in shares of ClearPoint Neuro during the 2nd quarter valued at approximately $307,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ClearPoint Neuro in the 2nd quarter worth approximately $175,000. Price T Rowe Associates Inc. MD boosted its holdings in ClearPoint Neuro by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock valued at $170,000 after purchasing an additional 1,813 shares during the period. Squarepoint Ops LLC bought a new position in shares of ClearPoint Neuro in the second quarter worth $549,000. Finally, Renaissance Technologies LLC raised its position in shares of ClearPoint Neuro by 562.6% in the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock worth $915,000 after buying an additional 144,088 shares in the last quarter. 30.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CLPT. Lake Street Capital boosted their target price on ClearPoint Neuro from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. B. Riley started coverage on ClearPoint Neuro in a report on Thursday, July 25th. They set a “buy” rating and a $10.00 price objective for the company.

ClearPoint Neuro Stock Up 3.5 %

NASDAQ:CLPT traded up $0.43 during midday trading on Thursday, hitting $12.72. The company had a trading volume of 71,016 shares, compared to its average volume of 182,804. The company has a market capitalization of $348.78 million, a PE ratio of -14.63 and a beta of 1.10. ClearPoint Neuro, Inc. has a 52-week low of $4.05 and a 52-week high of $14.13. The stock’s fifty day moving average price is $11.91 and its 200-day moving average price is $8.22.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.03. The firm had revenue of $7.86 million during the quarter, compared to analysts’ expectations of $7.50 million. ClearPoint Neuro had a negative return on equity of 64.23% and a negative net margin of 64.06%. During the same period in the prior year, the business earned ($0.29) EPS. As a group, research analysts forecast that ClearPoint Neuro, Inc. will post -0.65 earnings per share for the current year.

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.