GSA Capital Partners LLP Purchases 30,837 Shares of Neuronetics, Inc. (NASDAQ:STIM)

GSA Capital Partners LLP grew its position in shares of Neuronetics, Inc. (NASDAQ:STIM) by 64.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,642 shares of the company’s stock after acquiring an additional 30,837 shares during the period. GSA Capital Partners LLP owned about 0.26% of Neuronetics worth $60,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STIM. SG Americas Securities LLC purchased a new position in Neuronetics during the 1st quarter valued at about $62,000. Legato Capital Management LLC bought a new position in shares of Neuronetics during the second quarter valued at approximately $44,000. Gabelli Funds LLC lifted its stake in Neuronetics by 88.2% in the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after acquiring an additional 22,500 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Neuronetics by 97.1% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock valued at $173,000 after acquiring an additional 47,228 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Neuronetics by 63.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 135,746 shares of the company’s stock valued at $244,000 after purchasing an additional 52,450 shares during the period. 53.59% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert Cascella acquired 100,000 shares of Neuronetics stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $0.75 per share, with a total value of $75,000.00. Following the transaction, the director now directly owns 453,098 shares in the company, valued at approximately $339,823.50. This represents a 28.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 137,776 shares of company stock worth $105,860. Insiders own 9.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STIM shares. JMP Securities dropped their target price on shares of Neuronetics from $7.00 to $3.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 14th. Canaccord Genuity Group cut their price objective on Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, William Blair reissued a “market perform” rating on shares of Neuronetics in a research report on Monday, August 12th.

Neuronetics Trading Up 9.6 %

Shares of NASDAQ STIM opened at $0.97 on Tuesday. The stock has a market cap of $29.44 million, a P/E ratio of -0.79 and a beta of 2.21. 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, Inc. has a 1 year low of $0.52 and a 1 year high of $5.07. The firm has a 50-day moving average of $0.90 and a 200 day moving average of $1.41.

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.