Boone Capital Management LLC Takes Position in ClearPoint Neuro, Inc. $CLPT

Boone Capital Management LLC bought a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 283,912 shares of the company’s stock, valued at approximately $6,186,000. ClearPoint Neuro makes up approximately 2.0% of Boone Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Boone Capital Management LLC owned 1.00% of ClearPoint Neuro at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CLPT. Financial Management Professionals Inc. bought a new stake in ClearPoint Neuro in the third quarter worth approximately $28,000. Huntington National Bank bought a new position in shares of ClearPoint Neuro during the 3rd quarter worth approximately $44,000. Allworth Financial LP boosted its holdings in shares of ClearPoint Neuro by 3,076.9% during the 2nd quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock worth $25,000 after buying an additional 2,000 shares in the last quarter. BNP Paribas Financial Markets grew its position 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. Finally, Russell Investments Group Ltd. grew its position in shares of ClearPoint Neuro by 1,079.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,358 shares of the company’s stock worth $51,000 after buying an additional 2,158 shares during the period. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CLPT shares. Wall Street Zen downgraded shares of ClearPoint Neuro from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. B. Riley Financial reduced their price target on shares of ClearPoint Neuro from $28.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.50.

Insider Activity at ClearPoint Neuro

In other news, CEO Joseph Burnett sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $16.12, for a total value of $322,400.00. Following the transaction, the chief executive officer owned 11,565 shares in the company, valued at $186,427.80. The trade was a 63.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.97% of the stock is currently owned by corporate insiders.

ClearPoint Neuro Trading Down 6.4%

NASDAQ CLPT opened at $10.79 on Friday. The company has a current ratio of 6.37, a quick ratio of 5.56 and a debt-to-equity ratio of 1.84. The business has a fifty day simple moving average of $13.39 and a 200 day simple moving average of $15.62. ClearPoint Neuro, Inc. has a 12 month low of $8.63 and a 12 month high of $30.10. The firm has a market capitalization of $306.65 million, a P/E ratio of -12.85 and a beta of 1.02.

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.