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

FourWorld Capital Management LLC lifted its stake in shares of Neuronetics, Inc. (NASDAQ:STIM) by 59.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,489,322 shares of the company’s stock after buying an additional 558,072 shares during the quarter. Neuronetics comprises approximately 1.1% of FourWorld Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. FourWorld Capital Management LLC owned about 2.14% of Neuronetics worth $2,160,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STIM. Goldman Sachs Group Inc. boosted its stake in Neuronetics by 2,993.3% during the first quarter. Goldman Sachs Group Inc. now owns 630,393 shares of the company’s stock worth $2,320,000 after acquiring an additional 610,014 shares in the last quarter. Geode Capital Management LLC increased its stake in Neuronetics by 172.3% in the second quarter. Geode Capital Management LLC now owns 879,045 shares of the company’s stock valued at $3,068,000 after purchasing an additional 556,268 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Neuronetics by 195,023.5% in the second quarter. JPMorgan Chase & Co. now owns 66,342 shares of the company’s stock valued at $232,000 after purchasing an additional 66,308 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Neuronetics during the second quarter valued at about $103,000. Finally, Invesco Ltd. acquired a new position in shares of Neuronetics during the second quarter valued at about $100,000. Institutional investors own 53.59% of the company’s stock.

Insider Buying and Selling at Neuronetics

In other news, major shareholder Jorey Chernett purchased 475,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $1.34 per share, with a total value of $636,500.00. Following the completion of the transaction, the insider directly owned 10,453,988 shares of the company’s stock, valued at approximately $14,008,343.92. This trade represents a 4.76% 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. 8.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on STIM. Citigroup restated a “market outperform” rating on shares of Neuronetics in a research note on Tuesday, July 21st. Wall Street Zen raised Neuronetics from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. BTIG Research began coverage on Neuronetics in a report on Monday, July 20th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Neuronetics Price Performance

STIM stock opened at $1.73 on Monday. The company has a market capitalization of $120.39 million, a P/E ratio of -3.20 and a beta of 1.06. Neuronetics, Inc. has a 52-week low of $0.80 and a 52-week high of $4.85. The business has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.53. The company has a debt-to-equity ratio of 3.59, a quick ratio of 1.50 and a current ratio of 1.67.

Neuronetics (NASDAQ:STIM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The company 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%. Research analysts expect that Neuronetics, Inc. will post -0.46 EPS for the current fiscal year.

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.