Neuronetics, Inc. (NASDAQ:STIM) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its stake in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,481,771 shares of the company's stock after buying 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 SEC filing.

Other hedge funds also recently bought and sold shares of the company. Tradewinds LLC. purchased a new position in shares of Neuronetics in the fourth quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in shares of Neuronetics in the 4th quarter valued at $49,000. David J Yvars Group increased its holdings in shares of Neuronetics by 47.1% in the 4th quarter. David J Yvars Group now owns 46,325 shares of the company's stock valued at $75,000 after acquiring an additional 14,825 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Neuronetics by 10,954.1% in the 4th quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock valued at $88,000 after acquiring an additional 54,442 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Neuronetics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 314,076 shares of the company's stock valued at $506,000 after acquiring an additional 8,466 shares during the period. Hedge funds and other institutional investors own 53.59% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted 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.

Insiders Place Their Bets

In other Neuronetics news, EVP Stephen Furlong sold 193,460 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $4.27, for a total transaction of $826,074.20. Following the transaction, the executive vice president now owns 416,593 shares of the company's stock, valued at $1,778,852.11. This trade represents a 31.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 195,704 shares of company stock valued at $836,127. Company insiders own 8.70% of the company's stock.

Neuronetics Stock Performance

STIM traded down $0.08 during trading on Friday, hitting $4.22. The stock had a trading volume of 445,074 shares, compared to its average volume of 738,985. The company has a debt-to-equity ratio of 4.90, a quick ratio of 2.87 and a current ratio of 3.16. The firm has a market capitalization of $277.76 million, a P/E ratio of -3.43 and a beta of 1.92. The company's 50-day moving average price is $4.20 and its 200 day moving average price is $2.96. Neuronetics, Inc. has a twelve month low of $0.52 and a twelve month high of $5.92.

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

Neuronetics Company 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.