ClearPoint Neuro (NASDAQ:CLPT) Sets New 12-Month High Following Analyst Upgrade

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) reached a new 52-week high on Tuesday after Lake Street Capital raised their price target on the stock from $17.00 to $30.00. Lake Street Capital currently has a buy rating on the stock. ClearPoint Neuro traded as high as $18.23 and last traded at $18.81, with a volume of 340937 shares traded. The stock had previously closed at $15.04.

Institutional Trading of ClearPoint Neuro

Several large investors have recently bought and sold shares of CLPT. Point72 DIFC Ltd acquired a new position in shares of ClearPoint Neuro in the second quarter valued at approximately $32,000. Barclays PLC grew its holdings in ClearPoint Neuro by 24.3% in the 3rd quarter. Barclays PLC now owns 5,674 shares of the company’s stock valued at $64,000 after buying an additional 1,109 shares during the period. XTX Topco Ltd lifted its holdings in shares of 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 acquiring an additional 1,353 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ClearPoint Neuro by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 9,770 shares of the company’s stock worth $110,000 after acquiring an additional 3,612 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in ClearPoint Neuro in the third quarter valued at approximately $123,000. Institutional investors and hedge funds own 30.08% of the company’s stock.

ClearPoint Neuro Stock Up 24.0 %

The stock’s 50 day simple moving average is $14.05 and its two-hundred day simple moving average is $11.83. The company has a market cap of $514.50 million, a PE ratio of -27.26 and a beta of 1.01.

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.