ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Up 10.5% in November

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 759,900 shares, a growth of 10.5% from the October 31st total of 687,600 shares. Based on an average daily trading volume, of 209,700 shares, the short-interest ratio is presently 3.6 days.

ClearPoint Neuro Price Performance

NASDAQ:CLPT traded down $0.13 during trading hours on Monday, hitting $12.24. The company had a trading volume of 135,460 shares, compared to its average volume of 187,919. ClearPoint Neuro has a 52 week low of $5.11 and a 52 week high of $14.13. The company has a market capitalization of $337.64 million, a PE ratio of -17.93 and a beta of 1.10. The stock has a 50-day moving average price of $11.90 and a 200 day moving average price of $9.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of ClearPoint Neuro by 562.6% during 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 in the last quarter. Conway Capital Management Inc. purchased a new stake in ClearPoint Neuro in the third quarter worth about $1,586,000. Squarepoint Ops LLC bought a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $549,000. Cubist Systematic Strategies LLC purchased a new position in shares of ClearPoint Neuro during the second quarter valued at approximately $419,000. Finally, Rinkey Investments bought a new stake in shares of ClearPoint Neuro in the 2nd quarter worth approximately $307,000. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price target on ClearPoint Neuro from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

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.