Top 5 Stocks Activist Investors Are Targeting

3. Greenbrook TMS Inc (NASDAQ:GBNH)

Greenbrook TMS Inc (NASDAQ:GBNH) is a small ($31 million market cap) healthcare company that provides Transcranial Magnetic Stimulation (TMS) therapy for the treatment of mental disorders including Major Depressive Disorder. In a recent 13D filing, Madryn Asset Management reported raising its stake in the company to 21.2% from the previous holding of 8.21%. The new position comprises 9.28 million shares and positions Madryn among the company’s largest shareholders. According to the filing, Madryn acquired the shares following a private placement. In addition, in 2022, Madryn and Greenbrook TMS Inc (NASDAQ:GBNH) entered into a credit agreement worth $75 million that was extended by several additional tranches earlier this year.

Greenbrook TMS Inc (NASDAQ:GBNH) lost more than 66% since the beginning of the year even though it had a 150% bounce between March 23 and March 30. At the end of March, the company announced a delay in filing its annual report for the last year as it is seeking additional information and analysis related to some potential non-cash impairment charges related to some non-financial assets.