Assenagon Asset Management S.A. Acquires Shares of 97,656 Neuronetics, Inc. (NASDAQ:STIM)

Assenagon Asset Management S.A. purchased a new position in shares of Neuronetics, Inc. (NASDAQ:STIM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Presidio Capital Management LLC purchased a new stake in Neuronetics during the 1st quarter valued at about $44,000. Tradewinds LLC. acquired a new stake in shares of Neuronetics in the fourth quarter valued at approximately $32,000. XTX Topco Ltd purchased a new position in shares of Neuronetics during the 4th quarter worth $49,000. Wealthedge Investment Advisors LLC purchased a new position in Neuronetics during the 4th quarter valued at about $57,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Neuronetics by 10,954.1% during the fourth quarter. JPMorgan Chase & Co. now owns 54,939 shares of the company's stock worth $88,000 after purchasing an additional 54,442 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling 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 value of $826,074.20. Following the sale, the executive vice president now directly owns 416,593 shares in the company, valued at $1,778,852.11. The trade was a 31.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.70% of the company's stock.

Neuronetics Trading Down 3.2%

STIM opened at $3.38 on Friday. The firm has a market cap of $222.47 million, a price-to-earnings ratio of -2.58 and a beta of 1.92. Neuronetics, Inc. has a 52 week low of $0.52 and a 52 week high of $5.92. The business's 50 day moving average is $4.04 and its two-hundred day moving average is $3.42. The company has a quick ratio of 2.28, a current ratio of 2.44 and a debt-to-equity ratio of 1.40.

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

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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