Neuronetics (NASDAQ:STIM) CEO Sells $55,847.55 in Stock

Neuronetics, Inc. (NASDAQ:STIM) CEO Keith Sullivan sold 33,847 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $1.65, for a total value of $55,847.55. Following the completion of the sale, the chief executive officer owned 1,533,165 shares of the company’s stock, valued at $2,529,722.25. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Neuronetics Stock Down 3.7%

Shares of NASDAQ:STIM opened at $1.29 on Friday. The firm has a market cap of $88.35 million, a P/E ratio of -1.57 and a beta of 0.79. Neuronetics, Inc. has a 12-month low of $1.25 and a 12-month high of $5.92. The business has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $2.34. The company has a quick ratio of 2.09, a current ratio of 2.24 and a debt-to-equity ratio of 2.09.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of STIM. AdvisorShares Investments LLC increased its stake in Neuronetics by 8.3% in the second quarter. AdvisorShares Investments LLC now owns 130,534 shares of the company’s stock valued at $456,000 after purchasing an additional 10,000 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Neuronetics by 436.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 86,919 shares of the company’s stock valued at $303,000 after buying an additional 70,709 shares during the period. R Squared Ltd bought a new stake in Neuronetics in the 2nd quarter valued at about $52,000. Caption Management LLC bought a new stake in Neuronetics in the 3rd quarter valued at about $38,000. Finally, Raymond James Financial Inc. acquired a new position in Neuronetics during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 53.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neuronetics in a research report on Thursday, January 22nd. Wall Street Zen upgraded Neuronetics from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Neuronetics has a consensus rating of “Hold” and a consensus target price of $7.00.

Neuronetics Company Profile

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.