Conway Capital Management Inc. Purchases 19,725 Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Conway Capital Management Inc. raised its holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,225 shares of the company’s stock after buying an additional 19,725 shares during the quarter. ClearPoint Neuro accounts for approximately 1.1% of Conway Capital Management Inc.’s holdings, making the stock its 19th biggest holding. Conway Capital Management Inc.’s holdings in ClearPoint Neuro were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CLPT. Point72 DIFC Ltd bought a new position in ClearPoint Neuro in the 2nd quarter valued at $32,000. Barclays PLC lifted its position in ClearPoint Neuro by 24.3% during the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock worth $64,000 after buying an additional 1,109 shares in the last quarter. XTX Topco Ltd grew its holdings in ClearPoint Neuro by 11.6% during the 2nd quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock worth $70,000 after acquiring an additional 1,353 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of ClearPoint Neuro in the third quarter worth about $123,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Stock Down 0.8 %

CLPT opened at $17.78 on Friday. The company has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $12.00. ClearPoint Neuro, Inc. has a 52 week low of $5.11 and a 52 week high of $19.00.

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

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price objective on ClearPoint Neuro from $17.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday.

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.