Conway Capital Management Inc. Takes $1.66 Million Position in ClearPoint Neuro, Inc. $CLPT

Conway Capital Management Inc. acquired a new stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT) during the second quarter, Holdings Channel.com reports. The firm acquired 92,975 shares of the company’s stock, valued at approximately $1,659,000. ClearPoint Neuro comprises approximately 0.7% of Conway Capital Management Inc.’s portfolio, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLPT. Caitong International Asset Management Co. Ltd bought a new position in shares of ClearPoint Neuro in the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its holdings in shares of ClearPoint Neuro by 2,435.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock worth $27,000 after buying an additional 2,143 shares during the period. Russell Investments Group Ltd. grew its stake in ClearPoint Neuro by 1,079.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock valued at $51,000 after buying an additional 2,158 shares during the last quarter. Legal & General Group Plc acquired a new position in ClearPoint Neuro in the 2nd quarter valued at $35,000. Finally, Versant Capital Management Inc grew its stake in ClearPoint Neuro by 5,568.9% in the 2nd quarter. Versant Capital Management Inc now owns 3,458 shares of the company’s stock valued at $62,000 after buying an additional 3,397 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors and hedge funds.

ClearPoint Neuro Price Performance

NASDAQ:CLPT opened at $15.50 on Tuesday. The company has a debt-to-equity ratio of 4.66, a current ratio of 4.74 and a quick ratio of 3.89. ClearPoint Neuro, Inc. has a one year low of $8.27 and a one year high of $30.10. The company has a fifty day moving average price of $15.81 and a 200 day moving average price of $13.05. The stock has a market cap of $472.75 million, a P/E ratio of -13.14 and a beta of 1.24.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.09). ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.The company had revenue of $10.88 million during the quarter, compared to analyst estimates of $12.73 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Analysts anticipate that ClearPoint Neuro, Inc. will post -1.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on CLPT shares. Wall Street Zen lowered shares of ClearPoint Neuro from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Lake Street Capital set a $25.00 price objective on ClearPoint Neuro in a research note on Tuesday, August 4th. B. Riley Financial boosted their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $22.00 target price on ClearPoint Neuro in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ClearPoint Neuro has an average rating of “Hold” and a consensus target price of $25.67.

Insider Activity at ClearPoint Neuro

In related news, Director Lynnette C. Fallon sold 5,091 shares of ClearPoint Neuro stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total transaction of $56,713.74. Following the sale, the director directly owned 48,227 shares of the company’s stock, valued at $537,248.78. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy T. Richards sold 5,415 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the transaction, the director owned 87,198 shares in the company, valued at $1,061,199.66. This represents a 5.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 108,349 shares of company stock worth $1,796,118 in the last three months. Corporate insiders own 6.94% of the company’s stock.

ClearPoint Neuro Profile

ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.

The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.