Neuronetics (NASDAQ:STIM) CEO Keith Sullivan Sells 8,452 Shares of Stock

Neuronetics, Inc. (NASDAQ:STIM) CEO Keith Sullivan sold 8,452 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $1.35, for a total transaction of $11,410.20. Following the completion of the sale, the chief executive officer directly owned 1,524,713 shares in the company, valued at $2,058,362.55. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Neuronetics Stock Performance

Shares of STIM traded down $0.08 during mid-day trading on Friday, reaching $1.34. The company had a trading volume of 1,000,583 shares, compared to its average volume of 2,941,062. The stock has a market capitalization of $91.78 million, a P/E ratio of -1.63 and a beta of 0.79. Neuronetics, Inc. has a 52-week low of $1.20 and a 52-week high of $5.92. The stock has a 50 day moving average of $1.66 and a two-hundred day moving average of $2.25. The company has a quick ratio of 2.09, a current ratio of 2.24 and a debt-to-equity ratio of 2.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STIM shares. 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 research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Neuronetics currently has an average rating of “Hold” and an average target price of $7.00.

Institutional Investors Weigh In On Neuronetics

A number of institutional investors and hedge funds have recently bought and sold shares of STIM. Madryn Asset Management LP purchased a new stake in Neuronetics in the fourth quarter valued at approximately $25,497,000. Vanguard Group Inc. increased its holdings in shares of Neuronetics by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,832,118 shares of the company’s stock valued at $7,732,000 after acquiring an additional 89,504 shares during the period. UBS Group AG boosted its stake in Neuronetics by 20.4% during the 4th quarter. UBS Group AG now owns 2,607,047 shares of the company’s stock worth $3,598,000 after purchasing an additional 442,216 shares during the period. Lane Generational LLC purchased a new position in Neuronetics during the 4th quarter worth $2,353,000. Finally, Balyasny Asset Management L.P. grew its position in Neuronetics by 6.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,509,099 shares of the company’s stock worth $5,267,000 after purchasing an additional 92,048 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

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.