Cwm LLC Buys New Shares in Neuronetics, Inc. (NASDAQ:STIM)

Cwm LLC bought a new stake in Neuronetics, Inc. (NASDAQ:STIM – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,931 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also made changes to their positions in STIM. Nantahala Capital Management LLC bought a new position in shares of Neuronetics in the first quarter valued at $2,667,000. Assenagon Asset Management S.A. acquired a new stake in Neuronetics during the 3rd quarter valued at $833,000. Renaissance Technologies LLC acquired a new stake in Neuronetics during the 1st quarter valued at $564,000. Millrace Asset Group Inc. lifted its holdings in Neuronetics by 28.4% during the 2nd quarter. Millrace Asset Group Inc. now owns 629,731 shares of the company’s stock valued at $2,021,000 after purchasing an additional 139,395 shares during the last quarter. Finally, Cannell Capital LLC lifted its holdings in Neuronetics by 4.5% during the 1st quarter. Cannell Capital LLC now owns 2,750,353 shares of the company’s stock valued at $8,334,000 after purchasing an additional 118,131 shares during the last quarter. 62.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on Neuronetics from $9.00 to $10.00 in a report on Wednesday, November 9th.

Insider Transactions at Neuronetics

In other news, CFO Stephen Furlong sold 16,050 shares of Neuronetics stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $6.13, for a total transaction of $98,386.50. Following the completion of the sale, the chief financial officer now owns 373,269 shares of the company’s stock, valued at $2,288,138.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Stephen Furlong sold 16,050 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $6.13, for a total value of $98,386.50. Following the completion of the transaction, the chief financial officer now owns 373,269 shares of the company’s stock, valued at $2,288,138.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cannell Capital Llc sold 141,664 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $6.59, for a total value of $933,565.76. Following the completion of the transaction, the insider now directly owns 3,005,389 shares of the company’s stock, valued at approximately $19,805,513.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,216 shares of company stock valued at $1,662,890. 5.20% of the stock is currently owned by corporate insiders.

Neuronetics Trading Up 5.2 %

Shares of Neuronetics stock opened at $6.03 on Friday. Neuronetics, Inc. has a 1 year low of $1.98 and a 1 year high of $6.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.02 and a quick ratio of 3.68. The company has a market capitalization of $164.14 million, a price-to-earnings ratio of -4.40 and a beta of 2.12. The business has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $4.42.

Neuronetics (NASDAQ:STIM – Get Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.16. Neuronetics had a negative return on equity of 49.80% and a negative net margin of 58.85%. The company had revenue of $16.50 million during the quarter, compared to the consensus estimate of $14.79 million. Research analysts forecast that Neuronetics, Inc. will post -1.51 EPS for the current year.

Neuronetics Company Profile

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Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.