Insider Selling: Neuronetics (NASDAQ:STIM) EVP Sells $23,298.00 in Stock

Neuronetics, Inc. (NASDAQ:STIM) EVP William Andrew Macan sold 14,120 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $1.65, for a total value of $23,298.00. Following the transaction, the executive vice president directly owned 673,561 shares of the company’s stock, valued at approximately $1,111,375.65. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

William Andrew Macan also recently made the following trade(s):

• On Tuesday, February 10th, William Andrew Macan sold 3,485 shares of Neuronetics stock. The shares were sold at an average price of $1.55, for a total transaction of $5,401.75.

Neuronetics Trading Down 3.7%

Shares of Neuronetics stock opened at $1.29 on Friday. The firm’s 50 day moving average is $1.68 and its 200 day moving average is $2.34. The firm has a market capitalization of $88.35 million, a PE ratio of -1.57 and a beta of 0.79. Neuronetics, Inc. has a 1 year low of $1.25 and a 1 year high of $5.92. 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 Inflows and Outflows

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

Analyst Upgrades and Downgrades

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