Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Grows By 15.1%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 712,200 shares, a growth of 15.1% from the September 30th total of 618,500 shares. Based on an average trading volume of 199,200 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLPT. Lake Street Capital boosted their price target on ClearPoint Neuro from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. B. Riley assumed coverage on ClearPoint Neuro in a research note on Thursday, July 25th. They issued a “buy” rating and a $10.00 price objective on the stock.

ClearPoint Neuro Stock Performance

Shares of CLPT stock traded down $0.22 during trading hours on Wednesday, hitting $12.80. The company had a trading volume of 105,595 shares, compared to its average volume of 183,033. ClearPoint Neuro has a 12 month low of $4.05 and a 12 month high of $14.13. The firm has a market capitalization of $353.23 million, a price-to-earnings ratio of -18.34 and a beta of 1.10. The firm’s fifty day moving average is $12.07 and its 200 day moving average is $8.43.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $7.86 million for the quarter, compared to analyst estimates of $7.50 million. ClearPoint Neuro had a negative return on equity of 64.23% and a negative net margin of 64.06%. During the same period in the prior year, the company posted ($0.29) EPS. On average, sell-side analysts expect that ClearPoint Neuro will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of ClearPoint Neuro in the 2nd quarter worth approximately $32,000. XTX Topco Ltd lifted its holdings in ClearPoint Neuro by 11.6% during the 2nd quarter. XTX Topco Ltd now owns 13,010 shares of the company’s stock worth $70,000 after buying an additional 1,353 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ClearPoint Neuro by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock worth $170,000 after buying an additional 1,813 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ClearPoint Neuro during the 2nd quarter worth $175,000. Finally, Russell Investments Group Ltd. lifted its holdings in ClearPoint Neuro by 23,048.0% during the 1st quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock worth $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.

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.