CM Management LLC Has $1.74 Million Holdings in ClearPoint Neuro, Inc. $CLPT

CM Management LLC cut its stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 60.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,000 shares of the company’s stock after selling 120,000 shares during the period. ClearPoint Neuro makes up approximately 1.4% of CM Management LLC’s holdings, making the stock its 24th biggest position. CM Management LLC’s holdings in ClearPoint Neuro were worth $1,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of ClearPoint Neuro by 107.3% during the second quarter. Geode Capital Management LLC now owns 624,800 shares of the company’s stock valued at $7,461,000 after buying an additional 323,429 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in ClearPoint Neuro during the second quarter worth about $48,000. Police & Firemen s Retirement System of New Jersey bought a new position in ClearPoint Neuro during the second quarter valued at about $73,000. Campbell & CO Investment Adviser LLC bought a new position in ClearPoint Neuro during the second quarter valued at about $445,000. Finally, Lane Generational LLC increased its stake in ClearPoint Neuro by 20.7% during the third quarter. Lane Generational LLC now owns 311,885 shares of the company’s stock valued at $6,796,000 after acquiring an additional 53,458 shares during the period. 30.08% of the stock is currently owned by institutional investors and hedge funds.

ClearPoint Neuro Stock Performance

NASDAQ CLPT opened at $10.00 on Friday. ClearPoint Neuro, Inc. has a twelve month low of $8.63 and a twelve month high of $30.10. The company has a quick ratio of 5.56, a current ratio of 6.37 and a debt-to-equity ratio of 1.84. The stock has a market cap of $284.20 million, a P/E ratio of -11.90 and a beta of 1.02. The company’s 50-day simple moving average is $13.63 and its 200 day simple moving average is $15.59.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other ClearPoint Neuro news, CEO Joseph Burnett sold 2,943 shares of ClearPoint Neuro stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $15.57, for a total transaction of $45,822.51. Following the sale, the chief executive officer directly owned 214,116 shares of the company’s stock, valued at approximately $3,333,786.12. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.97% of the company’s stock.

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.