ClearPoint Neuro (NASDAQ:CLPT) Hits New 1-Year High Following Analyst Upgrade

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) reached a new 52-week high on Tuesday after Lake Street Capital raised their price target on the stock from $17.00 to $30.00. Lake Street Capital currently has a buy rating on the stock. ClearPoint Neuro traded as high as $18.23 and last traded at $18.81, with a volume of 340937 shares traded. The stock had previously closed at $15.04.

Institutional Trading of ClearPoint Neuro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of ClearPoint Neuro by 24.3% in the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after buying an additional 1,109 shares during the period. Point72 DIFC Ltd acquired a new position in shares of ClearPoint Neuro during the second quarter valued at $32,000. JPMorgan Chase & Co. increased its holdings in shares of ClearPoint Neuro by 58.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock worth $110,000 after acquiring an additional 3,612 shares during the period. Verition Fund Management LLC bought a new stake in shares of ClearPoint Neuro during the third quarter valued at approximately $123,000. Finally, XTX Topco Ltd boosted its position in shares of ClearPoint Neuro by 11.6% during the second quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock worth $70,000 after buying an additional 1,353 shares during the period. 30.08% of the stock is owned by institutional investors.

ClearPoint Neuro Stock Performance

The firm has a market capitalization of $514.50 million, a P/E ratio of -27.26 and a beta of 1.01. The business has a fifty day moving average of $14.05 and a 200-day moving average of $11.83.

ClearPoint Neuro Company 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.