FourWorld Capital Management LLC Acquires 558,072 Shares of Neuronetics, Inc. $STIM

FourWorld Capital Management LLC boosted its holdings in Neuronetics, Inc. (NASDAQ:STIM) by 59.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,489,322 shares of the company’s stock after acquiring an additional 558,072 shares during the period. Neuronetics makes up about 1.1% of FourWorld Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. FourWorld Capital Management LLC’s holdings in Neuronetics were worth $2,160,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Madryn Asset Management LP purchased a new position in shares of Neuronetics in the 4th quarter worth about $25,497,000. Vanguard Group Inc. raised its position in Neuronetics by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,832,118 shares of the company’s stock worth $7,732,000 after acquiring an additional 89,504 shares during the period. UBS Group AG boosted its stake in Neuronetics by 20.4% in the fourth quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock valued at $3,598,000 after acquiring an additional 442,216 shares during the last quarter. Lane Generational LLC bought a new position in shares of Neuronetics during the 4th quarter valued at approximately $2,353,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of Neuronetics by 6.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,509,099 shares of the company’s stock worth $5,267,000 after purchasing an additional 92,048 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Neuronetics Stock Performance

Shares of STIM stock opened at $1.73 on Monday. The stock has a market capitalization of $120.39 million, a price-to-earnings ratio of -3.20 and a beta of 1.06. The company’s fifty day simple moving average is $1.44 and its two-hundred day simple moving average is $1.53. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $4.85. 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 (NASDAQ:STIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative return on equity of 139.83% and a negative net margin of 24.48%.The company had revenue of $34.45 million during the quarter, compared to analysts’ expectations of $34.17 million. As a group, analysts anticipate that Neuronetics, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

STIM has been the topic of several research analyst reports. BTIG Research assumed coverage on Neuronetics in a research note on Monday, July 20th. They issued a “buy” rating and a $5.00 price objective on the stock. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Citigroup reiterated a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Insider Buying and Selling at Neuronetics

In related news, major shareholder Jorey Chernett purchased 100,000 shares of the firm’s stock in a transaction dated 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 directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by corporate insiders.

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.