BWAY BrainsWay Ltd. - American Depositary Shares
About BrainsWay Ltd. - American Depositary Shares Company overview from Wikipedia
BrainsWay Ltd. is an international company that is engaged in the development of a medical device that uses H-coil for deep transcranial magnetic stimulation as a non-invasive treatment for depression, OCD, and smoking addiction. The company was founded in 2003 and has offices in the US and Jerusalem.
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BrainsWay Ltd. (Hebrew: בריינסוויי) is an international company that is engaged in the development of a medical device that uses H-coil for deep transcranial magnetic stimulation (Deep TMS) as a non-invasive treatment for depression, OCD, and smoking addiction. The company was founded in 2003 and has offices in the US and Jerusalem.
## History
The magnetic coil technology used by BrainsWay's devices, called the "H coil", emerged from research done in the late 1990s and early 2000s at the U.S. National Institutes of Health (NIH) by Abraham Zangen, Roy A. Wise, Mark Hallett, Pedro C. Miranda and Yiftach Roth. Most coils used in transcranial magnetic stimulation (TMS) provide a shallow magnetic field that affects neurons mostly on the surface of the brain, delivered with coil shaped like the number eight. The H coil provided magnetic fields deeper in the brain, and devices using them provide what is called "deep TMS".
The H-coil was patented by the NIH in 2002, and the procedure whereby the H-coil was applied to TMS became known as Deep TMS.
BrainsWay was founded in 2003 in Delaware by Uzi Sofer and Avner Hagai, together with David Zacut, and they set up a subsidiary in Jerusalem, and obtained an exclusive license from the NIH for the patent it filed on the H coil. By 2006 the company had conducted animal studies at Weizmann Institute of Science and had run its first clinical trial assessing safety, at Tel Aviv University.
In early 2007 BrainsWay executed an initial public offering on the Tel Aviv Stock Exchange, raising ₪33 million for a market cap of ₪110 million. In 2010 BrainsWay announced plans to list shares of the company's stock on the Nasdaq exchange but withdrew them in June.
In January 2013, BrainsWay received clearance from the U.S. Food and Drug Administration and from Health Canada to market its deep TMS device in the United States and in Canada as a treatment for treatment-resistant major depressive disorder. Evidence to support this use is tentative; as of 2013 no high quality evidence is available.
In August 2020, BrainsWay received FDA clearance for its deep TMS device for use in smoking addiction. The device has also previously been cleared by the FDA using an H1-coil for major depressive disorder and H7-coil for OCD.
In September 2025, BrainsWay received FDA clearance for an accelerated MDD protocol that shortens the initial treatment phase from 4 weeks down to just 6 days.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
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BWAY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 3 42.9%
- Buy 3 42.9%
- Hold 1 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-15Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.14 | $0.15 | -0.01% |
| March 31, 2026 | $0.19 | $0.17 | 0.01% |
| Dec. 31, 2025 | $0.26 | $0.13 | 0.13% |
| Sept. 30, 2025 | $0.13 | $0.10 | 0.04% |
| June 30, 2025 | $0.18 | $0.09 | 0.09% |
| March 31, 2025 | $0.26 | $0.13 | 0.13% |
| Dec. 31, 2024 | $0.15 | $0.08 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BWAY | — | — | — | — | — | — |
| DRTS | — | — | — | — | — | — |
| INMD | — | — | — | — | — | — |
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Institutional owners (13F) 58 filers · $156.8M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 10 (-10 vs prior Q) | 8 (+1 vs prior Q) | 12 (-18 vs prior Q) | 20 (+16 vs prior Q) | -456K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Valor Management LLC | $82,434,875 | 5,314,950 | 52.57% | Shares |
| MASTERS CAPITAL MANAGEMENT LLC | $23,265,000 | 1,500,000 | 14.84% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $9,191,319 | 592,606 | 5.86% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $7,381,519 | 475,920 | 4.71% | Shares |
| Cresset Asset Management, LLC | $4,884,471 | 314,924 | 3.11% | Shares |
| Y.D. More Investments Ltd | $3,682,586 | 237,433 | 2.35% | Shares |
| EAGLE GLOBAL ADVISORS LLC | $2,832,219 | 182,606 | 1.81% | Shares |
| ARK Investment Management LLC | $2,210,175 | 142,500 | 1.41% | Shares |
| SEI INVESTMENTS CO | $1,856,811 | 119,717 | 1.18% | Shares |
| Sigma Planning Corp | $1,557,747 | 100,435 | 0.99% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,543,943 | 99,545 | 0.98% | Shares |
| ROYCE & ASSOCIATES LP | $1,504,982 | 97,033 | 0.96% | Shares |
| JPMORGAN CHASE & CO | $1,468,562 | 96,807 | 0.94% | Shares |
| TWO SIGMA ADVISERS, LP | $1,460,736 | 76,800 | 0.93% | Shares |
| GOLDMAN SACHS GROUP INC | $1,428,331 | 92,091 | 0.91% | Shares |
| Huntleigh Advisors, Inc. | $1,354,120 | 87,306 | 0.86% | Shares |
| Quadrature Capital Ltd | $978,588 | 63,094 | 0.62% | Shares |
| WELLS FARGO & COMPANY/MN | $862,806 | 55,629 | 0.55% | Shares |
| UBS Group AG | $677,647 | 43,691 | 0.43% | Shares |
| State of Wyoming | $600,935 | 38,745 | 0.38% | Shares |
| RHUMBLINE ADVISERS | $581,753 | 37,509 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $572,288 | 36,898 | 0.36% | Shares |
| Trexquant Investment LP | $572,195 | 36,892 | 0.36% | Shares |
| Man Group plc | $426,122 | 27,474 | 0.27% | Shares |
| Crossmark Global Holdings, Inc. | $393,194 | 25,351 | 0.25% | Shares |
| Voleon Capital Management LP | $384,819 | 24,811 | 0.25% | Shares |
| Good Life Advisors, LLC | $360,310 | 27,400 | 0.23% | Shares |
| NewEdge Advisors, LLC | $292,055 | 18,830 | 0.19% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $270,960 | 17,470 | 0.17% | Shares |
| Engineers Gate Manager LP | $267,610 | 17,254 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $255,729 | 16,488 | 0.16% | Shares |
| ROYAL BANK OF CANADA | $232,000 | 14,940 | 0.15% | Shares |
| Aquatic Capital Management LLC | $224,709 | 14,488 | 0.14% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $212,564 | 13,705 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $170,610 | 11,000 | 0.11% | Call option |
| State of Tennessee, Department of Treasury | $136,675 | 8,812 | 0.09% | Shares |
| OSAIC HOLDINGS, INC. | $70,848 | 4,568 | 0.05% | Shares |
| GAMMA Investing LLC | $56,363 | 3,634 | 0.04% | Shares |
| BlackRock, Inc. | $26,119 | 1,684 | 0.02% | Shares |
| BARCLAYS PLC | $22,257 | 1,435 | 0.01% | Shares |
| TD Waterhouse Canada Inc. | $21,765 | 1,430 | 0.01% | Shares |
| LANARK FINANCIAL, INC. | $17,061 | 1,100 | 0.01% | Shares |
| MORGAN STANLEY | $15,432 | 995 | 0.01% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $12,514 | 807,931 | 0.01% | Shares |
| Basepoint Wealth LLC | $9,306 | 600 | 0.01% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $9,306 | 600 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $6,049 | 390 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $5,196 | 335 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $2,679 | 185 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $2,078 | 134 | 0.00% | Shares |
| Stone House Investment Management, LLC | $2,032 | 131 | 0.00% | Shares |
| Steigerwald, Gordon & Koch Inc. | $1,861 | 120 | 0.00% | Shares |
| Bullseye Asset Management LLC | $643 | 41,482 | 0.00% | Shares |
| Cambridge Investment Research Advisors, Inc. | $428 | 27,622 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $155 | 10 | 0.00% | Shares |
| CITIGROUP INC | $47 | 3 | 0.00% | Shares |
| Harel Insurance Investments & Financial Services Ltd. | $47 | 3,000 | 0.00% | Shares |
| Penserra Capital Management LLC | $34 | 2,250 | 0.00% | Shares |
Company insiders 3 insiders · 2 officers · 1 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Yiftach Roth | Chief Scientist | June 2, 2026 S | 1,072,305 | 0 | 0 | $0 |
| Gilad Moiseyev | Chief Technology Officer | May 25, 2026 M | 53,098 | 0 | 0 | $0 |
| Rayten Michal Ety Mitrany | Director | May 26, 2026 S | 12,500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Valor BrainsWay Holdings, LLC, Valor Siren Ventures II L.P., Valor Siren Partners II-A L.P., Valor Siren Partners II-B L.P., Valor SV Associates II L.P., Valor SV Capital II LLC, Valor Management L.P., Valor Management LLC, Valor Funds Group LLC, Jonathan Shulkin, Antonio Gracias ×3 filings | Oct. 8, 2025 | 15.00% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 4 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.