Jorey Chernett Purchases 169,472 Shares of Neuronetics (NASDAQ:STIM) Stock

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett acquired 169,472 shares of the business’s stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $1.41 per share, for a total transaction of $238,955.52. Following the completion of the acquisition, the insider directly owned 8,743,276 shares in the company, valued at approximately $12,328,019.16. The trade was a 1.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

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

Neuronetics Trading Down 9.1%

Shares of STIM stock opened at $1.46 on Wednesday. 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 company has a market capitalization of $100.80 million, a price-to-earnings ratio of -2.47 and a beta of 0.87. Neuronetics, Inc. has a 52-week low of $0.80 and a 52-week high of $4.97. The company has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.98.

Neuronetics (NASDAQ:STIM) last announced its earnings results on Tuesday, March 17th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $41.78 million for the quarter, compared to the consensus estimate of $40.84 million. Neuronetics had a negative return on equity of 121.26% and a negative net margin of 26.15%. Research analysts anticipate that Neuronetics, Inc. will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

STIM has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on Neuronetics from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Wall Street Zen downgraded shares of Neuronetics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Neuronetics presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Presidio Capital Management LLC bought a new stake in Neuronetics during the 3rd quarter valued at $32,000. Intrua Financial LLC bought a new position in Neuronetics in the 3rd quarter valued at $33,000. Sherbrooke Park Advisers LLC bought a new stake in Neuronetics during the third quarter valued at $33,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Neuronetics in the 2nd quarter valued at about $34,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Neuronetics in the 2nd quarter valued at about $37,000. 53.59% of the stock is owned by 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.