Key Points
- Major shareholder Jorey Chernett bought 100,000 shares of Neuronetics at $1.17 each, spending $117,000 and lifting his stake to 10,553,988 shares. The purchase was disclosed in an SEC filing.
- Chernett has been aggressively adding to his position in recent months, including a 475,000-share buy on May 12 and several larger purchases in March and April. These transactions show continued insider confidence despite the stock’s weakness.
- Neuronetics reported better-than-expected first-quarter results, with EPS of -$0.16 versus -$0.17 expected and revenue of $34.45 million. Even so, the company remains unprofitable and analysts currently rate the stock a Hold with a $3.00 price target.
Neuronetics, Inc. (NASDAQ:STIM - Get Free Report) major shareholder Jorey Chernett purchased 100,000 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired 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 $12,348,165.96. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 stock was acquired at an average price 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 stock was acquired at an average price 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 stock was acquired at an average price 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 stock was acquired at an average price 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 stock was acquired at an average price 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 stock was acquired at an average price of $1.16 per share, for a total transaction of $615,960.00.
Neuronetics Price Performance
Shares of NASDAQ:STIM opened at $1.19 on Thursday. Neuronetics, Inc. has a twelve month low of $0.80 and a twelve month high of $4.85. The company's 50 day moving average is $1.48 and its 200 day moving average is $1.60. 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 company has a market cap of $82.81 million, a PE ratio of -2.20 and a beta of 1.13.
Neuronetics (NASDAQ:STIM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. Neuronetics had a negative net margin of 24.48% and a negative return on equity of 139.83%. The company had revenue of $34.45 million for the quarter, compared to the consensus estimate of $34.17 million. On average, sell-side analysts forecast that Neuronetics, Inc. will post -0.46 EPS for the current year.
Institutional Investors Weigh In On Neuronetics
A number of hedge funds and other institutional investors have recently made changes to their positions in STIM. Presidio Capital Management LLC purchased a new position in shares of Neuronetics during the 3rd quarter valued at approximately $32,000. Intrua Financial LLC purchased a new position in shares of Neuronetics during the 3rd quarter valued at approximately $33,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Neuronetics during the 3rd quarter valued at approximately $33,000. Raymond James Financial Inc. purchased a new position in shares of Neuronetics during the 2nd quarter valued at approximately $37,000. Finally, Caption Management LLC purchased a new position in shares of Neuronetics during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 53.59% of the company's stock.
Wall Street Analyst Weigh In
STIM has been the topic of a number of analyst reports. Canaccord Genuity Group dropped their price objective on shares of Neuronetics from $7.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Neuronetics in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Neuronetics from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Neuronetics has an average rating of "Hold" and a consensus price target of $3.00.
View Our Latest Research Report on STIM
Neuronetics Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
