B. Riley Begins Coverage on ClearPoint Neuro (NASDAQ:CLPT)

B. Riley assumed coverage on shares of ClearPoint Neuro (NASDAQ:CLPT) in a research report report published on Thursday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

ClearPoint Neuro Trading Down 2.2 %

Shares of NASDAQ:CLPT opened at $7.39 on Thursday. ClearPoint Neuro has a 12-month low of $4.05 and a 12-month high of $7.97. The company has a market capitalization of $202.63 million, a PE ratio of -8.80 and a beta of 1.07. The business has a 50 day moving average of $6.10 and a two-hundred day moving average of $6.43.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. ClearPoint Neuro had a negative return on equity of 76.92% and a negative net margin of 78.84%. The company had revenue of $7.64 million during the quarter, compared to the consensus estimate of $7.04 million. Equities research analysts predict that ClearPoint Neuro will post -0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CLPT. Essex Investment Management Co. LLC purchased a new stake in shares of ClearPoint Neuro in the first quarter valued at approximately $2,243,000. CM Management LLC increased its position in shares of ClearPoint Neuro by 87.5% in the first quarter. CM Management LLC now owns 375,000 shares of the company’s stock valued at $2,550,000 after buying an additional 175,000 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in shares of ClearPoint Neuro in the first quarter valued at approximately $894,000. Taylor Frigon Capital Management LLC increased its position in shares of ClearPoint Neuro by 20.3% in the first quarter. Taylor Frigon Capital Management LLC now owns 424,097 shares of the company’s stock valued at $2,884,000 after buying an additional 71,491 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of ClearPoint Neuro by 23,048.0% in the first quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock valued at $315,000 after buying an additional 46,096 shares in the last quarter. 30.08% of the stock is owned by institutional investors and hedge funds.

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.