Assenagon Asset Management S.A. Makes New Investment in Neuronetics, Inc. (NASDAQ:STIM)

Assenagon Asset Management S.A. bought a new stake in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 97,656 shares of the company's stock, valued at approximately $359,000. Assenagon Asset Management S.A. owned approximately 0.15% of Neuronetics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of STIM. Tradewinds LLC. bought a new stake in Neuronetics during the 4th quarter valued at $32,000. Presidio Capital Management LLC bought a new stake in Neuronetics during the 1st quarter valued at $44,000. XTX Topco Ltd bought a new stake in Neuronetics during the 4th quarter valued at $49,000. Wealthedge Investment Advisors LLC bought a new stake in Neuronetics during the 4th quarter valued at $57,000. Finally, JPMorgan Chase & Co. boosted its position in Neuronetics by 10,954.1% during 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 in the last quarter. Institutional investors own 53.59% of the company's stock.

Neuronetics Stock Performance

STIM stock traded down $0.03 during trading on Monday, hitting $3.43. 1,371,641 shares of the company traded hands, compared to its average volume of 781,255. The stock's 50-day simple moving average is $4.03 and its 200 day simple moving average is $3.48. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.44 and a quick ratio of 2.28. The company has a market cap of $225.76 million, a PE ratio of -2.62 and a beta of 1.92. Neuronetics, Inc. has a 1 year low of $0.52 and a 1 year high of $5.92.

Neuronetics (NASDAQ:STIM - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $31.98 million for the quarter, compared to analysts' expectations of $29.07 million. Neuronetics had a negative net margin of 53.67% and a negative return on equity of 174.15%. On average, equities analysts expect that Neuronetics, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Neuronetics

In related news, EVP Stephen Furlong sold 193,460 shares of Neuronetics stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $4.27, for a total transaction of $826,074.20. Following the completion of the transaction, the executive vice president now directly owns 416,593 shares in the company, valued at approximately $1,778,852.11. This trade represents a 31.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on Neuronetics from $5.00 to $8.00 and gave the company a "buy" rating in a research 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.