Parsons Capital Management Inc. RI Purchases 2,600 Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT)

Parsons Capital Management Inc. RI grew its position in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,573 shares of the company’s stock after acquiring an additional 2,600 shares during the period. Parsons Capital Management Inc. RI’s holdings in ClearPoint Neuro were worth $2,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Conway Capital Management Inc. purchased a new position in ClearPoint Neuro during the 3rd quarter valued at about $1,586,000. Squarepoint Ops LLC bought a new stake in shares of ClearPoint Neuro in the 2nd quarter worth approximately $549,000. Renaissance Technologies LLC increased its stake in shares of ClearPoint Neuro by 562.6% during the second quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after buying an additional 144,088 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $419,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in ClearPoint Neuro in the third quarter worth $156,000. 30.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Lake Street Capital boosted their price objective on shares of ClearPoint Neuro from $17.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st.

ClearPoint Neuro Stock Performance

CLPT stock opened at $17.00 on Tuesday. The company has a market capitalization of $468.86 million, a price-to-earnings ratio of -24.64 and a beta of 1.01. The business’s 50 day moving average price is $14.73 and its two-hundred day moving average price is $12.23. ClearPoint Neuro, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $19.00.

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

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.