Balyasny Asset Management L.P. Raises Stock Holdings in Neuronetics, Inc. (NASDAQ:STIM)

Balyasny Asset Management L.P. increased its position in Neuronetics, Inc. (NASDAQ:STIM) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,481,771 shares of the company’s stock after purchasing an additional 337,539 shares during the period. Balyasny Asset Management L.P.’s holdings in Neuronetics were worth $2,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STIM. Tradewinds LLC. purchased a new stake in Neuronetics in the fourth quarter worth $32,000. XTX Topco Ltd purchased a new stake in shares of Neuronetics in the fourth quarter worth $49,000. David J Yvars Group grew its stake in shares of Neuronetics by 47.1% in the fourth quarter. David J Yvars Group now owns 46,325 shares of the company’s stock worth $75,000 after acquiring an additional 14,825 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Neuronetics by 10,954.1% in the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company’s stock worth $88,000 after acquiring an additional 54,442 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Neuronetics by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 314,076 shares of the company’s stock worth $506,000 after acquiring an additional 8,466 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on Neuronetics from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th.

Neuronetics Trading Down 6.5%

NASDAQ STIM opened at $4.14 on Tuesday. Neuronetics, Inc. has a 12 month low of $0.52 and a 12 month high of $5.92. The stock has a market cap of $272.49 million, a P/E ratio of -3.37 and a beta of 1.92. The stock’s fifty day moving average price is $4.23 and its 200-day moving average price is $2.87. The company has a current ratio of 3.16, a quick ratio of 2.87 and a debt-to-equity ratio of 4.90.

Neuronetics (NASDAQ:STIM) last released its earnings results on Tuesday, May 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Neuronetics had a negative return on equity of 141.24% and a negative net margin of 50.09%. The company had revenue of $31.98 million during the quarter, compared to analysts’ expectations of $29.07 million. As a group, equities analysts forecast that Neuronetics, Inc. will post -1.13 EPS for the current fiscal year.

Insider Activity

In other news, EVP William Andrew Macan sold 12,175 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total transaction of $46,630.25. Following the transaction, the executive vice president now directly owns 388,647 shares of the company’s stock, valued at $1,488,518.01. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen Furlong sold 17,307 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $4.11, for a total value of $71,131.77. Following the transaction, the chief financial officer now directly owns 454,420 shares in the company, valued at approximately $1,867,666.20. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,571 shares of company stock valued at $169,351 over the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Neuronetics Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.