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

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 100,000 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was acquired at an average cost of $1.58 per share, with a total value of $158,000.00. Following the transaction, the insider directly owned 9,878,988 shares in the company, valued at $15,608,801.04. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, March 20th, Jorey Chernett purchased 169,472 shares of Neuronetics stock. The stock was acquired at an average cost of $1.41 per share, with a total value of $238,955.52.
• On Thursday, March 19th, Jorey Chernett purchased 450,000 shares of Neuronetics stock. The stock was acquired at an average cost of $1.33 per share, with a total value of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett acquired 607,400 shares of Neuronetics stock. The shares were bought at an average cost of $1.35 per share, with a total value of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett acquired 531,000 shares of Neuronetics stock. The shares were bought at an average cost of $1.16 per share, with a total value of $615,960.00.

Neuronetics Stock Performance

Shares of Neuronetics stock opened at $1.59 on Thursday. Neuronetics, Inc. has a one year low of $0.80 and a one year high of $4.85. The company has a market cap of $110.63 million, a PE ratio of -2.69 and a beta of 0.87. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.87 and a current ratio of 2.02. The business has a 50-day simple moving average of $1.40 and a 200-day simple moving average of $1.77.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%.The business had revenue of $41.78 million during the quarter, compared to the consensus estimate of $40.84 million. On average, equities research analysts forecast that Neuronetics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Trading of Neuronetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Neuronetics in the 2nd quarter valued at about $37,000. Presidio Capital Management LLC purchased a new stake in shares of Neuronetics in the 3rd quarter valued at about $32,000. Intrua Financial LLC purchased a new stake in shares of Neuronetics in the 3rd quarter valued at about $33,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Neuronetics in the 3rd quarter valued at about $33,000. Finally, Caption Management LLC purchased a new stake in shares of Neuronetics in the 3rd quarter valued at about $38,000. 53.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group dropped their target price on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Neuronetics presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Neuronetics Company Profile

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.