ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Down 11.3% in August

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 709,400 shares, a decline of 11.3% from the August 15th total of 799,700 shares. Based on an average daily trading volume, of 237,700 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in shares of ClearPoint Neuro in the second quarter worth about $32,000. Cubist Systematic Strategies LLC acquired a new position in shares of ClearPoint Neuro in the second quarter worth about $419,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ClearPoint Neuro in the second quarter worth about $175,000. Squarepoint Ops LLC acquired a new position in shares of ClearPoint Neuro in the second quarter worth about $549,000. Finally, Marshall Wace LLP raised its position in shares of ClearPoint Neuro by 202.2% in the second quarter. Marshall Wace LLP now owns 58,260 shares of the company’s stock worth $314,000 after acquiring an additional 38,984 shares during the period. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analysts Set New Price Targets

CLPT has been the subject of several research reports. B. Riley initiated coverage on shares of ClearPoint Neuro in a research note on Thursday, July 25th. They set a “buy” rating and a $10.00 price objective for the company. Lake Street Capital boosted their target price on shares of ClearPoint Neuro from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th.

ClearPoint Neuro Stock Performance

NASDAQ CLPT traded down $0.26 on Wednesday, reaching $11.66. 223,297 shares of the company’s stock traded hands, compared to its average volume of 181,465. The firm has a market cap of $319.72 million, a price-to-earnings ratio of -13.96 and a beta of 1.12. The stock has a 50 day moving average price of $9.77 and a 200-day moving average price of $7.29. ClearPoint Neuro has a fifty-two week low of $4.05 and a fifty-two week high of $13.47.

ClearPoint Neuro (NASDAQ:CLPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $7.86 million during the quarter, compared to the consensus estimate of $7.50 million. ClearPoint Neuro had a negative net margin of 64.06% and a negative return on equity of 64.23%. During the same period in the previous year, the firm posted ($0.29) earnings per share. As a group, equities research analysts anticipate that ClearPoint Neuro will post -0.65 EPS for the current fiscal year.

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.