Balyasny Asset Management L.P. Grows Position in Neuronetics, Inc. (NASDAQ:STIM)

Balyasny Asset Management L.P. grew its position in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,771 shares of the company's stock after acquiring an additional 337,539 shares during the quarter. Balyasny Asset Management L.P. owned 4.88% of Neuronetics worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Neuronetics in the fourth quarter valued at about $49,000. Geode Capital Management LLC raised its holdings 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 valued at $506,000 after purchasing an additional 8,466 shares during the last quarter. Tradewinds LLC. purchased a new stake in shares of Neuronetics in the fourth quarter valued at about $32,000. JPMorgan Chase & Co. raised its holdings 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 valued at $88,000 after purchasing an additional 54,442 shares during the last quarter. Finally, David J Yvars Group raised its holdings 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 valued at $75,000 after purchasing an additional 14,825 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

Neuronetics Trading Down 6.5%

Shares of Neuronetics stock opened at $4.14 on Tuesday. Neuronetics, Inc. has a 1 year low of $0.52 and a 1 year high of $5.92. The firm has a market cap of $272.49 million, a PE ratio of -3.37 and a beta of 1.92. The stock has a fifty day moving average price of $4.23 and a 200-day moving average price of $2.87. The company has a debt-to-equity ratio of 4.90, a current ratio of 3.16 and a quick ratio of 2.87.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $31.98 million during the quarter, compared to analysts' expectations of $29.07 million. Equities research analysts anticipate that Neuronetics, Inc. will post -1.13 EPS for the current year.

Insider Activity

In other news, CFO Stephen Furlong sold 10,845 shares of Neuronetics stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total transaction of $41,536.35. Following the completion of the sale, the chief financial officer now owns 471,727 shares in the company, valued at approximately $1,806,714.41. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Andrew Macan sold 12,175 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $3.83, for a total value of $46,630.25. Following the completion of the sale, the executive vice president now owns 388,647 shares of the company's stock, valued at $1,488,518.01. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,571 shares of company stock worth $169,351. 8.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their target price on shares of Neuronetics from $5.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, March 5th.

About Neuronetics

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.

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