Geode Capital Management LLC Buys 323,429 Shares of ClearPoint Neuro, Inc. $CLPT

Geode Capital Management LLC increased its position in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 107.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 624,800 shares of the company’s stock after acquiring an additional 323,429 shares during the quarter. Geode Capital Management LLC owned about 2.23% of ClearPoint Neuro worth $7,461,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in ClearPoint Neuro by 3,076.9% in the 2nd quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock worth $25,000 after purchasing an additional 2,000 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of ClearPoint Neuro in the second quarter worth $48,000. Deutsche Bank AG purchased a new stake in shares of ClearPoint Neuro in the first quarter worth $63,000. AlphaQuest LLC raised its position in shares of ClearPoint Neuro by 433.5% in the second quarter. AlphaQuest LLC now owns 9,411 shares of the company’s stock worth $112,000 after buying an additional 7,647 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in ClearPoint Neuro by 9.6% during the second quarter. MGO One Seven LLC now owns 17,949 shares of the company’s stock valued at $214,000 after buying an additional 1,569 shares during the period. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Insiders Place Their Bets

In other ClearPoint Neuro news, CEO Joseph Burnett sold 26,463 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $26.98, for a total transaction of $713,971.74. Following the completion of the sale, the chief executive officer directly owned 217,059 shares in the company, valued at $5,856,251.82. This represents a 10.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.97% of the stock is owned by corporate insiders.

ClearPoint Neuro Stock Performance

NASDAQ:CLPT opened at $13.54 on Friday. The company has a market capitalization of $384.81 million, a price-to-earnings ratio of -16.12 and a beta of 1.01. The business has a 50 day moving average of $20.25 and a 200 day moving average of $14.64. The company has a debt-to-equity ratio of 1.84, a current ratio of 6.37 and a quick ratio of 5.56. ClearPoint Neuro, Inc. has a 1-year low of $9.76 and a 1-year high of $30.10.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $5.36 million for the quarter, compared to analysts’ expectations of $9.60 million. ClearPoint Neuro had a negative return on equity of 114.28% and a negative net margin of 67.40%. On average, sell-side analysts predict that ClearPoint Neuro, Inc. will post -0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLPT has been the topic of a number of research analyst reports. Wall Street Zen lowered ClearPoint Neuro from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearPoint Neuro in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

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.