Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Acquires 100,000 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 100,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $1.17 per share, for a total transaction of $117,000.00. Following the completion of the transaction, the insider directly owned 10,553,988 shares of the company’s stock, valued at $12,348,165.96. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, May 12th, Jorey Chernett acquired 475,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.34 per share, for a total transaction of $636,500.00.
• On Monday, April 20th, Jorey Chernett acquired 100,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.58 per share, for a total transaction of $158,000.00.
• On Friday, March 20th, Jorey Chernett acquired 169,472 shares of Neuronetics stock. The stock was bought at an average cost of $1.41 per share, for a total transaction of $238,955.52.
• On Thursday, March 19th, Jorey Chernett acquired 450,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.33 per share, for a total transaction of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett acquired 607,400 shares of Neuronetics stock. The stock was bought at an average cost of $1.35 per share, for a total transaction of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett acquired 531,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Stock Up 0.4%

NASDAQ:STIM traded up $0.01 during mid-day trading on Wednesday, hitting $1.19. The company had a trading volume of 1,415,461 shares, compared to its average volume of 2,261,931. The business has a fifty day simple moving average of $1.48 and a 200-day simple moving average of $1.61. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $4.85. The firm has a market capitalization of $82.46 million, a price-to-earnings ratio of -2.19 and a beta of 1.13.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The company had revenue of $34.45 million for the quarter, compared to analyst estimates of $34.17 million. Equities analysts forecast that Neuronetics, Inc. will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STIM shares. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Canaccord Genuity Group lowered their target price on Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Finally, Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.00.

Institutional Trading of Neuronetics

Large investors have recently modified their holdings of the business. Presidio Capital Management LLC acquired a new stake in shares of Neuronetics during the third quarter valued at about $32,000. Intrua Financial LLC acquired a new position in Neuronetics in the third quarter worth about $33,000. Sherbrooke Park Advisers LLC acquired a new position in Neuronetics in the third quarter worth about $33,000. Raymond James Financial Inc. acquired a new position in Neuronetics in the second quarter worth about $37,000. Finally, Caption Management LLC acquired a new position in Neuronetics in the third quarter worth about $38,000. 53.59% of the stock is currently owned by institutional investors and hedge funds.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.