Neuronetics (NASDAQ:STIM) Major Shareholder Jorey Chernett Sells 86,757 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 86,757 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $1.61, for a total transaction of $139,678.77. Following the sale, the insider directly owned 10,219,468 shares of the company’s stock, valued at approximately $16,453,343.48. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, November 6th, Jorey Chernett sold 250,804 shares of Neuronetics stock. The stock was sold at an average price of $2.39, for a total transaction of $599,421.56.
• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The stock was sold at an average price of $1.15, for a total transaction of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The stock was sold at an average price of $1.43, for a total transaction of $1,010,781.20.
• On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The stock was sold at an average price of $2.06, for a total transaction of $214,155.54.
• On Monday, November 9th, Jorey Chernett purchased 40,000 shares of Neuronetics stock. The stock was bought at an average cost of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett acquired 18,000 shares of Neuronetics stock. The shares were bought at an average price of $2.27 per share, with a total value of $40,860.00.

Neuronetics Price Performance

Shares of NASDAQ:STIM traded down $0.04 on Friday, reaching $1.39. 16,248,659 shares of the company traded hands, compared to its average volume of 2,081,244. Neuronetics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $3.44. The company’s 50 day moving average is $2.35 and its 200-day moving average is $1.87. The stock has a market capitalization of $108.04 million, a PE ratio of -4.21 and a beta of 1.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 2.01 and a quick ratio of 1.82.

Neuronetics (NASDAQ:STIM) last issued its earnings results on Wednesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The business had revenue of $41.96 million for the quarter, compared to analysts’ expectations of $40.42 million. Neuronetics had a negative return on equity of 102.23% and a negative net margin of 14.45%. As a group, analysts anticipate that Neuronetics, Inc. will post -0.30 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on STIM. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. B. Riley Financial raised their target price on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, BTIG Research reissued a “buy” rating and issued a $6.00 target price on shares of Neuronetics in a research report on Thursday, September 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Institutional Trading of Neuronetics

Several large investors have recently added to or reduced their stakes in STIM. Madryn Asset Management LP acquired a new stake in shares of Neuronetics in the second quarter worth $24,102,634. Marshall Wace LLP grew its holdings in shares of Neuronetics by 219.5% during the third quarter. Marshall Wace LLP now owns 1,551,840 shares of the company’s stock valued at $3,631,000 after buying an additional 1,066,148 shares in the last quarter. HighTower Advisors LLC raised its position in Neuronetics by 95.4% during the third quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock valued at $2,578,000 after buying an additional 537,761 shares during the period. FourWorld Capital Management LLC raised its position in Neuronetics by 59.9% during the first quarter. FourWorld Capital Management LLC now owns 1,489,322 shares of the company’s stock valued at $2,160,000 after buying an additional 558,072 shares during the period. Finally, BlackRock Inc. acquired a new position in Neuronetics during the second quarter valued at $776,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Top Neuronetics Stories

Investors following STIM have been watching these stories:

• Positive Sentiment: Third-quarter revenue was $41.96 million, above the $40.43 million analyst estimate, while its $0.02-per-share loss was narrower than the expected $0.09 loss. The results may support sentiment about improving performance. Article: Neuronetics stock: Q3 revenue rises as loss narrows
• Negative Sentiment: Major shareholder Jorey Chernett disclosed several sales from November 6–13, totaling about 3.34 million shares, partly offset by a 40,000-share purchase. After the latest sale, Chernett held about 7.33 million shares. The scale of the selling may raise concerns about near-term supply and investor confidence. SEC filing on Chernett’s transactions

About Neuronetics

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.