Neuronetics (NASDAQ:STIM) Stock: Insider Jorey Chernett Sells 250,804 Shares

Neuronetics, Inc. (NASDAQ:STIM) major shareholder Jorey Chernett sold 250,804 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $2.39, for a total transaction of $599,421.56. Following the sale, the insider owned 10,370,184 shares in the company, valued at approximately $24,784,739.76. This trade represents a 2.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, November 13th, Jorey Chernett sold 2,187,051 shares of Neuronetics stock. The stock was sold at an average price of $1.15, for a total transaction of $2,515,108.65.
• On Thursday, November 12th, Jorey Chernett sold 706,840 shares of Neuronetics stock. The shares were sold at an average price of $1.43, for a total value of $1,010,781.20.
• On Wednesday, November 11th, Jorey Chernett sold 86,757 shares of Neuronetics stock. The stock was sold at an average price of $1.61, for a total value of $139,678.77.
• On Monday, November 9th, Jorey Chernett sold 103,959 shares of Neuronetics stock. The stock was sold at an average price of $2.06, for a total value of $214,155.54.
• On Monday, November 9th, Jorey Chernett acquired 40,000 shares of Neuronetics stock. The shares were acquired at an average price of $1.99 per share, for a total transaction of $79,600.00.
• On Friday, October 30th, Jorey Chernett acquired 18,000 shares of Neuronetics stock. The shares were acquired at an average price of $2.27 per share, for a total transaction of $40,860.00.

Neuronetics Trading Down 2.8%

Shares of NASDAQ:STIM traded down $0.04 during midday trading on Friday, reaching $1.39. The company’s stock had a trading volume of 16,248,659 shares, compared to its average volume of 2,081,244. The firm has a market cap of $108.04 million, a price-to-earnings ratio of -4.21 and a beta of 1.36. The company has a quick ratio of 1.82, a current ratio of 2.01 and a debt-to-equity ratio of 2.76. Neuronetics, Inc. has a 1 year low of $0.80 and a 1 year high of $3.44. The business has a 50 day moving average price of $2.35 and a 200 day moving average price of $1.87.

Neuronetics (NASDAQ:STIM) last released its earnings results on Wednesday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.07. Neuronetics had a negative return on equity of 102.23% and a negative net margin of 14.45%. The firm had revenue of $41.96 million during the quarter, compared to analyst estimates of $40.42 million. Research analysts forecast that Neuronetics, Inc. will post -0.30 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a report on Monday, September 14th. BTIG Research reissued a “buy” rating and issued a $6.00 target price on shares of Neuronetics in a research report on Thursday, September 17th. Citigroup restated a “market outperform” rating on shares of Neuronetics in a report on Tuesday, July 21st. Finally, B. Riley Financial upped their price target on shares of Neuronetics from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Neuronetics News Roundup

Here’s some of the latest news about STIM:

• Positive Sentiment: Third-quarter revenue was $41.96 million, above the $40.43 million analyst estimate, while its $0.02-per-share loss was narrower than the expected $0.09 loss. The results may support sentiment about improving performance. Article: Neuronetics stock: Q3 revenue rises as loss narrows
• Negative Sentiment: Major shareholder Jorey Chernett disclosed several sales from November 6–13, totaling about 3.34 million shares, partly offset by a 40,000-share purchase. After the latest sale, Chernett held about 7.33 million shares. The scale of the selling may raise concerns about near-term supply and investor confidence. SEC filing on Chernett’s transactions

Hedge Funds Weigh In On Neuronetics

Several hedge funds and other institutional investors have recently modified their holdings of STIM. Jump Financial LLC purchased a new stake in shares of Neuronetics during the 3rd quarter worth about $69,000. Marshall Wace LLP raised its holdings in Neuronetics by 219.5% in the third quarter. Marshall Wace LLP now owns 1,551,840 shares of the company’s stock valued at $3,631,000 after buying an additional 1,066,148 shares during the period. Empowered Funds LLC purchased a new position in Neuronetics in the third quarter valued at approximately $211,000. HighTower Advisors LLC raised its holdings in Neuronetics by 95.4% in the third quarter. HighTower Advisors LLC now owns 1,101,502 shares of the company’s stock valued at $2,578,000 after buying an additional 537,761 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Neuronetics during the third quarter valued at approximately $176,000. 53.59% of the stock is owned by institutional investors and hedge funds.

Neuronetics Company Profile

Neuronetics, Inc. is a medical technology company that develops and commercializes noninvasive treatments for certain mental health conditions. Its flagship product is the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation to deliver targeted magnetic pulses to areas of the brain. NeuroStar is FDA-cleared for treating major depressive disorder in adults who have not achieved satisfactory improvement with antidepressant medication. The company also provides treatment-related services and support for clinicians and patients.