CM Management LLC Reduces Holdings in ClearPoint Neuro, Inc. (NASDAQ:CLPT)

CM Management LLC cut its stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,000 shares of the company’s stock after selling 10,000 shares during the quarter. ClearPoint Neuro comprises approximately 3.9% of CM Management LLC’s investment portfolio, making the stock its 5th biggest holding. CM Management LLC owned 1.05% of ClearPoint Neuro worth $4,460,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CLPT. Oppenheimer & Co. Inc. acquired a new stake in ClearPoint Neuro in the 3rd quarter worth about $156,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ClearPoint Neuro in the third quarter valued at approximately $366,000. Pekin Hardy Strauss Inc. purchased a new position in shares of ClearPoint Neuro in the third quarter valued at approximately $541,000. Verition Fund Management LLC acquired a new position in ClearPoint Neuro during the 3rd quarter worth $123,000. Finally, XTX Topco Ltd raised its stake in ClearPoint Neuro by 53.0% in the third quarter. XTX Topco Ltd now owns 19,900 shares of the company’s stock valued at $223,000 after buying an additional 6,890 shares in the last quarter. 30.08% of the stock is owned by hedge funds and other institutional investors.

ClearPoint Neuro Stock Performance

CLPT opened at $13.07 on Friday. The stock has a market capitalization of $361.15 million, a PE ratio of -18.94 and a beta of 1.06. The company’s 50 day simple moving average is $16.42 and its 200 day simple moving average is $13.96. ClearPoint Neuro, Inc. has a 1 year low of $5.11 and a 1 year high of $19.22.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). ClearPoint Neuro had a negative return on equity of 62.10% and a negative net margin of 59.64%. The company had revenue of $7.77 million during the quarter, compared to the consensus estimate of $8.23 million. As a group, sell-side analysts expect that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLPT has been the topic of several research analyst reports. Lake Street Capital lifted their price target on ClearPoint Neuro from $17.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. B. Riley lifted their target price on shares of ClearPoint Neuro from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th.

About ClearPoint Neuro

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.