ClearPoint Neuro (NASDAQ:CLPT) Hits New 52-Week High – What’s Next?

ClearPoint Neuro, Inc. (NASDAQ:CLPT) shares hit a new 52-week high during trading on Thursday . The company traded as high as $19.22 and last traded at $18.58, with a volume of 16118 shares. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Lake Street Capital boosted their price target on ClearPoint Neuro from $17.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. B. Riley boosted their target price on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th.

ClearPoint Neuro Price Performance

The company has a market capitalization of $516.71 million, a price-to-earnings ratio of -27.15 and a beta of 1.03. The firm has a fifty day simple moving average of $15.62 and a 200 day simple moving average of $12.71.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The company had revenue of $8.12 million during the quarter, compared to analyst estimates of $8.07 million. ClearPoint Neuro had a negative net margin of 59.64% and a negative return on equity of 62.10%. During the same period in the prior year, the business posted ($0.20) EPS. Research analysts predict that ClearPoint Neuro, Inc. will post -0.66 EPS for the current year.

Institutional Trading of ClearPoint Neuro

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of ClearPoint Neuro during the fourth quarter worth $32,000. Barclays PLC grew its stake in ClearPoint Neuro by 24.3% during the 3rd 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. JPMorgan Chase & Co. raised its holdings in ClearPoint Neuro by 58.7% in the 3rd 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 during the last quarter. Verition Fund Management LLC purchased a new position in ClearPoint Neuro in the 3rd quarter worth approximately $123,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of ClearPoint Neuro during the 3rd quarter worth approximately $156,000. Hedge funds and other institutional investors 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.