Neuronetics shares surge 11.01% intraday as 10% shareholder Jorey Chernett buys 169,472 shares at $1.41 average price.

Neuronetics surged 11.01% intraday, driven by a significant share repurchase from Jorey Chernett, who owns 10% of the company and recently bought 169,472 shares at an average price of $1.41 in the open market, increasing his stake to 8,743,276 shares. Neuronetics' primary product, the NeuroStar Advanced Therapy System, is a non-invasive transcranial magnetic stimulation (TMS) device used for outpatient treatment of major depressive disorder in adults.