ClearPoint Neuro, Inc. $CLPT Stock Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its position in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 93.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,915 shares of the company’s stock after acquiring an additional 134,540 shares during the period. Pekin Hardy Strauss Inc.’s holdings in ClearPoint Neuro were worth $3,393,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in ClearPoint Neuro during the 2nd quarter valued at about $42,456,000. Compass Financial Management LLC acquired a new stake in shares of ClearPoint Neuro in the second quarter valued at approximately $5,275,000. Bank of New York Mellon Corp bought a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $2,708,000. Deutsche Bank AG bought a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $2,048,000. Finally, Bank of America Corp DE bought a new stake in shares of ClearPoint Neuro during the second quarter valued at approximately $1,398,000. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Stock Performance

CLPT stock opened at $8.71 on Friday. The company has a market capitalization of $279.03 million, a P/E ratio of -7.19 and a beta of 1.38. The company has a 50-day simple moving average of $12.00 and a 200 day simple moving average of $12.90. ClearPoint Neuro, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $19.63. The company has a quick ratio of 5.77, a current ratio of 6.76 and a debt-to-equity ratio of 1.86.

ClearPoint Neuro (NASDAQ:CLPT) last released its earnings results on Wednesday, October 28th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.08. The firm had revenue of $12.07 million for the quarter, compared to analysts’ expectations of $12.30 million. ClearPoint Neuro had a negative net margin of 79.43% and a negative return on equity of 170.24%. Sell-side analysts predict that ClearPoint Neuro, Inc. will post -1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLPT. Wall Street Zen upgraded ClearPoint Neuro from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 31st. Lake Street Capital set a $25.00 target price on ClearPoint Neuro in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Thursday, October 15th. Finally, Stifel Nicolaus cut their target price on ClearPoint Neuro from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.33.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc is a medical technology company that develops and commercializes platforms for minimally invasive procedures involving the brain. Its technology is designed to help physicians plan, navigate and deliver treatments with real-time magnetic resonance imaging (MRI) guidance, supporting more precise access to targeted areas of the brain.

The company’s principal product is the ClearPoint Neuro Navigation System, which uses specialized software, instruments and accessories to guide neurosurgical procedures inside an MRI scanner.