Insider Selling: Neuronetics (NASDAQ:STIM) CEO Sells $11,410.20 in Stock

Neuronetics, Inc. (NASDAQ:STIM) CEO Keith Sullivan sold 8,452 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $1.35, for a total value of $11,410.20. Following the transaction, the chief executive officer owned 1,524,713 shares of the company’s stock, valued at $2,058,362.55. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Neuronetics Trading Down 5.6%

Shares of Neuronetics stock opened at $1.34 on Monday. The stock has a market capitalization of $91.78 million, a P/E ratio of -1.63 and a beta of 0.87. Neuronetics, Inc. has a 52-week low of $1.20 and a 52-week high of $5.92. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.09 and a current ratio of 2.24. The stock’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $2.22.

Institutional Trading of Neuronetics

Several institutional investors and hedge funds have recently modified their holdings of the business. AdvisorShares Investments LLC increased its position in shares of Neuronetics by 8.3% in the second quarter. AdvisorShares Investments LLC now owns 130,534 shares of the company’s stock worth $456,000 after purchasing an additional 10,000 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in 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 worth $303,000 after buying an additional 70,709 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Neuronetics by 260.7% in the 3rd quarter. HighTower Advisors LLC now owns 577,069 shares of the company’s stock worth $1,575,000 after buying an additional 417,087 shares during the last quarter. Caption Management LLC bought a new position in shares of Neuronetics in the 3rd quarter worth $38,000. Finally, Squarepoint Ops LLC raised its position in shares of Neuronetics by 20.0% during the 3rd quarter. Squarepoint Ops LLC now owns 62,458 shares of the company’s stock valued at $171,000 after buying an additional 10,423 shares in the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Neuronetics in a research note on Thursday, January 22nd. Wall Street Zen raised shares of 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neuronetics presently has an average 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.