Insider Selling: Neuronetics (NASDAQ:STIM) CEO Sells $63,512.80 in Stock

Neuronetics, Inc. (NASDAQ:STIM) CEO Keith Sullivan sold 40,976 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $1.55, for a total value of $63,512.80. Following the transaction, the chief executive officer directly owned 1,567,012 shares in the company, valued at $2,428,868.60. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Neuronetics Stock Performance

Shares of STIM stock opened at $1.42 on Friday. Neuronetics, Inc. has a 12 month low of $1.25 and a 12 month high of $5.92. The company’s fifty day moving average price is $1.68 and its 200-day moving average price is $2.44. The stock has a market cap of $97.25 million, a PE ratio of -1.73 and a beta of 0.79. The company has a current ratio of 2.24, a quick ratio of 2.09 and a debt-to-equity ratio of 2.09.

Institutional Investors Weigh In On Neuronetics

Large investors have recently bought and sold shares of the business. Presidio Capital Management LLC purchased a new position in Neuronetics in the third quarter worth about $32,000. Intrua Financial LLC bought a new stake in shares of Neuronetics in the 3rd quarter valued at approximately $33,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Neuronetics in the 3rd quarter worth approximately $33,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Neuronetics in the 2nd quarter worth approximately $34,000. Finally, Raymond James Financial Inc. bought a new position in shares of Neuronetics during the 2nd quarter valued at approximately $37,000. Institutional investors own 53.59% of the company’s stock.

Analysts Set New Price Targets

STIM has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Neuronetics in a report on Thursday, January 22nd. Wall Street Zen raised shares of Neuronetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.00.

About Neuronetics

Neuronetics, Inc is a commercial‐stage medical technology company that develops and markets non-invasive neuromodulation therapies for psychiatric and neurological disorders. The company’s flagship product, the NeuroStar Advanced Therapy System, uses repetitive transcranial magnetic stimulation (rTMS) to deliver targeted magnetic pulses to areas of the brain implicated in major depressive disorder (MDD). NeuroStar Advanced Therapy has received U.S. Food and Drug Administration clearance for the treatment of adults with treatment-resistant depression and is supported by a growing body of clinical evidence demonstrating its safety and efficacy.

Founded in 2003 and headquartered in Malvern, Pennsylvania, Neuronetics focuses on advancing clinical care through innovation in neurostimulation.