Essex Investment Management Co. LLC Sells 92,920 Shares of ClearPoint Neuro, Inc. $CLPT

Essex Investment Management Co. LLC cut its stake in ClearPoint Neuro, Inc. (NASDAQ:CLPT) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,458 shares of the company’s stock after selling 92,920 shares during the quarter. Essex Investment Management Co. LLC’s holdings in ClearPoint Neuro were worth $5,065,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in ClearPoint Neuro during the third quarter valued at about $28,000. Allworth Financial LP lifted its position in shares of ClearPoint Neuro by 3,076.9% during the second quarter. Allworth Financial LP now owns 2,065 shares of the company’s stock valued at $25,000 after buying an additional 2,000 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of ClearPoint Neuro by 2,435.2% during the second quarter. BNP Paribas Financial Markets now owns 2,231 shares of the company’s stock valued at $27,000 after buying an additional 2,143 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of ClearPoint Neuro in the 2nd quarter valued at about $32,000. Finally, Legal & General Group Plc purchased a new position in shares of ClearPoint Neuro in the 2nd quarter worth approximately $35,000. 30.08% of the stock is owned by institutional investors.

ClearPoint Neuro Stock Performance

CLPT opened at $14.11 on Tuesday. The company has a market cap of $401.01 million, a P/E ratio of -16.80 and a beta of 1.01. The company has a quick ratio of 5.56, a current ratio of 6.37 and a debt-to-equity ratio of 1.84. The firm’s 50-day moving average price is $14.01 and its 200-day moving average price is $15.38. ClearPoint Neuro, Inc. has a 52-week low of $9.76 and a 52-week high of $30.10.

Insider Transactions at ClearPoint Neuro

In other ClearPoint Neuro news, CEO Joseph Burnett sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $16.12, for a total transaction of $322,400.00. Following the transaction, the chief executive officer owned 11,565 shares in the company, valued at approximately $186,427.80. This represents a 63.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.11% of the company’s stock.

Analysts Set New Price Targets

CLPT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of ClearPoint Neuro from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

About ClearPoint Neuro

ClearPoint Neuro, Inc is a medical technology company specializing in the development and commercialization of an MRI-guided therapy platform for minimally invasive neurosurgical procedures. Headquartered in Cambridge, Massachusetts, the company’s flagship ClearPoint® SmartFrame™ system enables surgeons to perform accurate and efficient intracranial interventions by providing real-time magnetic resonance imaging feedback. This technology is designed to improve patient safety and outcomes in treatments ranging from deep brain stimulation electrode placement to laser ablation of epileptic foci and brain tumors.

The ClearPoint System integrates hardware, software and imaging capabilities to guide instruments through the brain with submillimeter precision.