Jorey Chernett Buys 100,000 Shares of Neuronetics (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $1.17 per share, for a total transaction of $117,000.00. Following the acquisition, the insider owned 10,553,988 shares in the company, valued at approximately $12,348,165.96. This trade represents a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 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 Tuesday, May 12th, Jorey Chernett bought 475,000 shares of Neuronetics stock. The shares were bought at an average price of $1.34 per share, for a total transaction of $636,500.00.
• On Monday, April 20th, Jorey Chernett bought 100,000 shares of Neuronetics stock. The shares were bought at an average price of $1.58 per share, for a total transaction of $158,000.00.
• On Friday, March 20th, Jorey Chernett bought 169,472 shares of Neuronetics stock. The shares were bought at an average price of $1.41 per share, for a total transaction of $238,955.52.
• On Thursday, March 19th, Jorey Chernett bought 450,000 shares of Neuronetics stock. The shares were bought at an average price of $1.33 per share, for a total transaction of $598,500.00.
• On Wednesday, March 18th, Jorey Chernett bought 607,400 shares of Neuronetics stock. The shares were bought at an average price of $1.35 per share, for a total transaction of $819,990.00.
• On Tuesday, March 17th, Jorey Chernett bought 531,000 shares of Neuronetics stock. The shares were bought at an average price of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Price Performance

NASDAQ:STIM traded up $0.01 during trading hours on Wednesday, reaching $1.19. 1,415,461 shares of the company traded hands, compared to its average volume of 2,261,931. The firm’s 50-day moving average is $1.48 and its 200-day moving average is $1.61. The stock has a market cap of $82.46 million, a P/E ratio of -2.19 and a beta of 1.13. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.67 and a quick ratio of 1.50. Neuronetics, Inc. has a 1-year low of $0.80 and a 1-year high of $4.85.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on STIM. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Canaccord Genuity Group decreased their price objective on Neuronetics from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

Institutional Inflows and Outflows

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

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.