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

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased 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 owned 10,553,988 shares in the company, valued at approximately $12,348,165.96. This represents a 0.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 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 Tuesday, May 12th, Jorey Chernett purchased 475,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.34 per share, for a total transaction of $636,500.00.
• On Monday, April 20th, Jorey Chernett purchased 100,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.58 per share, for a total transaction of $158,000.00.
• On Friday, March 20th, Jorey Chernett purchased 169,472 shares of Neuronetics stock. The shares were purchased at an average cost of $1.41 per share, for a total transaction of $238,955.52.
• On Thursday, March 19th, Jorey Chernett purchased 450,000 shares of Neuronetics stock. The shares were purchased at an average cost of $1.33 per share, for a total transaction 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 cost of $1.16 per share, for a total transaction of $615,960.00.

Neuronetics Stock Performance

STIM stock opened at $1.19 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.50 and a debt-to-equity ratio of 3.59. The firm has a market cap of $82.81 million, a P/E ratio of -2.20 and a beta of 1.13. Neuronetics, Inc. has a 12-month low of $0.80 and a 12-month high of $4.85. The stock’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $1.59.

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

Institutional Investors Weigh In On Neuronetics

Several large investors have recently added to or reduced their stakes in STIM. Goldman Sachs Group Inc. increased its position in Neuronetics by 2,993.3% in the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after buying an additional 610,014 shares during the period. Geode Capital Management LLC increased its position in Neuronetics by 172.3% in the second quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock worth $3,068,000 after buying an additional 556,268 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Neuronetics by 195,023.5% in the second quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company’s stock worth $232,000 after purchasing an additional 66,308 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Neuronetics in the second quarter worth $103,000. Finally, Invesco Ltd. bought a new position in shares of Neuronetics in the second quarter worth $100,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STIM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, January 22nd. 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 research report on Thursday, March 19th. Finally, Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.00.

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.