Boone Capital Management LLC Makes New Investment in ClearPoint Neuro, Inc. $CLPT

Boone Capital Management LLC bought a new stake in shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT) in the 3rd quarter, HoldingsChannel reports. The fund bought 283,912 shares of the company’s stock, valued at approximately $6,186,000. ClearPoint Neuro accounts for about 2.0% of Boone Capital Management LLC’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds also recently made changes to their positions in CLPT. Vanguard Group Inc. boosted its holdings in shares of ClearPoint Neuro by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,497,637 shares of the company’s stock worth $32,634,000 after buying an additional 22,517 shares during the last quarter. Millennium Management LLC grew its position in ClearPoint Neuro by 156.3% during the first quarter. Millennium Management LLC now owns 741,193 shares of the company’s stock valued at $8,813,000 after buying an additional 452,043 shares during the period. Geode Capital Management LLC increased its holdings in ClearPoint Neuro by 107.3% during the second quarter. Geode Capital Management LLC now owns 624,800 shares of the company’s stock worth $7,461,000 after buying an additional 323,429 shares during the last quarter. UBS Group AG increased its holdings in ClearPoint Neuro by 132.1% during the third quarter. UBS Group AG now owns 360,705 shares of the company’s stock worth $7,860,000 after buying an additional 205,295 shares during the last quarter. Finally, Lane Generational LLC raised its position in ClearPoint Neuro by 20.7% in the third quarter. Lane Generational LLC now owns 311,885 shares of the company’s stock worth $6,796,000 after acquiring an additional 53,458 shares during the period. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Price Performance

Shares of NASDAQ CLPT opened at $10.79 on Friday. The stock’s 50-day simple moving average is $13.39 and its two-hundred day simple moving average is $15.62. ClearPoint Neuro, Inc. has a twelve month low of $8.63 and a twelve month high of $30.10. The firm has a market capitalization of $306.65 million, a P/E ratio of -12.85 and a beta of 1.02. The company has a quick ratio of 5.56, a current ratio of 6.37 and a debt-to-equity ratio of 1.84.

Insider Transactions at ClearPoint Neuro

In other news, CEO Joseph Burnett sold 20,000 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $16.12, for a total value of $322,400.00. Following the completion of the transaction, the chief executive officer directly owned 11,565 shares in the company, valued at approximately $186,427.80. This represents a 63.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLPT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearPoint Neuro in a research note on Wednesday, January 21st. B. Riley Financial decreased their price target on shares of ClearPoint Neuro from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Wall Street Zen cut shares of ClearPoint Neuro from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ClearPoint Neuro presently has a consensus rating of “Hold” and an average price target of $13.50.

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.