Conway Capital Management Inc. Makes New $1.66 Million Investment in ClearPoint Neuro, Inc. $CLPT

Conway Capital Management Inc. bought a new position in ClearPoint Neuro, Inc. (NASDAQ:CLPT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 92,975 shares of the company’s stock, valued at approximately $1,659,000. ClearPoint Neuro makes up about 0.7% of Conway Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Conway Capital Management Inc. owned about 0.30% of ClearPoint Neuro as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CLPT. BlackRock Inc. acquired a new position in ClearPoint Neuro in the 2nd quarter worth approximately $42,456,000. Deutsche Bank AG acquired a new stake in ClearPoint Neuro during the 2nd quarter valued at $2,048,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ClearPoint Neuro during the 2nd quarter valued at $261,000. Persistent Asset Partners Ltd purchased a new stake in shares of ClearPoint Neuro in the second quarter valued at $75,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of ClearPoint Neuro in the second quarter valued at $2,708,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Price Performance

CLPT opened at $15.50 on Tuesday. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $13.05. The company has a current ratio of 4.74, a quick ratio of 3.89 and a debt-to-equity ratio of 4.66. ClearPoint Neuro, Inc. has a 1 year low of $8.27 and a 1 year high of $30.10. The stock has a market cap of $472.75 million, a price-to-earnings ratio of -13.14 and a beta of 1.24.

ClearPoint Neuro (NASDAQ:CLPT) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.09). The firm had revenue of $10.88 million during the quarter, compared to analyst estimates of $12.73 million. ClearPoint Neuro had a negative return on equity of 188.09% and a negative net margin of 81.76%.During the same period in the previous year, the company earned ($0.21) earnings per share. Analysts forecast that ClearPoint Neuro, Inc. will post -1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded ClearPoint Neuro from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. B. Riley Financial increased their price objective on ClearPoint Neuro from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Lake Street Capital set a $25.00 price objective on ClearPoint Neuro in a research report on Tuesday, August 4th. Stifel Nicolaus set a $22.00 target price on ClearPoint Neuro in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a report on Friday, July 17th. 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.com, ClearPoint Neuro has an average rating of “Hold” and an average price target of $25.67.

Insider Buying and Selling at ClearPoint Neuro

In other ClearPoint Neuro news, Director Timothy T. Richards sold 5,415 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $12.17, for a total value of $65,900.55. Following the completion of the sale, the director directly owned 87,198 shares of the company’s stock, valued at $1,061,199.66. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lynnette C. Fallon sold 5,091 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $11.14, for a total transaction of $56,713.74. Following the completion of the sale, the director directly owned 48,227 shares of the company’s stock, valued at $537,248.78. This represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 108,349 shares of company stock valued at $1,796,118 over the last three months. 6.94% of the stock is owned by insiders.

ClearPoint Neuro Company 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.