ClearPoint Neuro (NASDAQ:CLPT) Given New $30.00 Price Target at Lake Street Capital

ClearPoint Neuro (NASDAQ:CLPT) had its price target upped by equities researchers at Lake Street Capital from $17.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective indicates a potential upside of 69.86% from the stock’s current price.

ClearPoint Neuro Stock Performance

Shares of CLPT traded up $2.62 during midday trading on Tuesday, hitting $17.66. 222,570 shares of the stock were exchanged, compared to its average volume of 192,595. ClearPoint Neuro has a 52-week low of $5.11 and a 52-week high of $17.62. The stock has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $11.83. The firm has a market cap of $487.12 million, a P/E ratio of -25.50 and a beta of 1.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLPT. Renaissance Technologies LLC boosted its position in ClearPoint Neuro by 562.6% in the 2nd quarter. Renaissance Technologies LLC now owns 169,700 shares of the company’s stock valued at $915,000 after buying an additional 144,088 shares during the period. Conway Capital Management Inc. purchased a new stake in ClearPoint Neuro during the 3rd quarter worth about $1,586,000. Squarepoint Ops LLC acquired a new stake in ClearPoint Neuro in the 2nd quarter valued at about $549,000. Cubist Systematic Strategies LLC purchased a new position in shares of ClearPoint Neuro in the 2nd quarter valued at about $419,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of ClearPoint Neuro during the third quarter worth about $541,000. Hedge funds and other institutional investors own 30.08% of the company’s stock.

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.