Neuronetics, Inc. (NASDAQ:STIM) Major Shareholder Acquires $405,464.40 in Stock

Posted by MarketBeat News on Mar 18th, 2023

Neuronetics, Inc. (NASDAQ:STIM – Get Rating) major shareholder Cannell Capital Llc bought 136,520 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $2.97 per share, with a total value of $405,464.40. Following the acquisition, the insider now directly owns 3,068,103 shares in the company, valued at approximately $9,112,265.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cannell Capital Llc also recently made the following trade(s):

On Tuesday, March 7th, Cannell Capital Llc sold 7,746 shares of Neuronetics stock. The shares were sold at an average price of $4.71, for a total transaction of $36,483.66.
On Tuesday, January 17th, Cannell Capital Llc sold 2,912 shares of Neuronetics stock. The shares were sold at an average price of $6.31, for a total transaction of $18,374.72.
On Friday, January 13th, Cannell Capital Llc sold 4,896 shares of Neuronetics stock. The shares were sold at an average price of $6.30, for a total transaction of $30,844.80.
On Wednesday, January 11th, Cannell Capital Llc sold 8,970 shares of Neuronetics stock. The shares were sold at an average price of $6.45, for a total transaction of $57,856.50.
On Monday, January 9th, Cannell Capital Llc sold 141,664 shares of Neuronetics stock. The shares were sold at an average price of $6.59, for a total transaction of $933,565.76.
On Thursday, January 5th, Cannell Capital Llc sold 33,267 shares of Neuronetics stock. The shares were sold at an average price of $6.29, for a total transaction of $209,249.43.
On Tuesday, January 3rd, Cannell Capital Llc sold 16,440 shares of Neuronetics stock. The stock was sold at an average price of $6.66, for a total transaction of $109,490.40.
On Tuesday, December 27th, Cannell Capital Llc sold 6,161 shares of Neuronetics stock. The stock was sold at an average price of $6.01, for a total transaction of $37,027.61.
On Friday, December 23rd, Cannell Capital Llc sold 6,513 shares of Neuronetics stock. The stock was sold at an average price of $6.02, for a total transaction of $39,208.26.
On Wednesday, December 21st, Cannell Capital Llc sold 7,311 shares of Neuronetics stock. The stock was sold at an average price of $6.31, for a total transaction of $46,132.41.

Neuronetics Price Performance

Neuronetics stock opened at $2.83 on Friday. The stock has a market cap of $77.03 million, a P/E ratio of -2.14 and a beta of 2.03. The company has a fifty day simple moving average of $5.46 and a 200-day simple moving average of $4.76. Neuronetics, Inc. has a 12-month low of $1.98 and a 12-month high of $6.95. The company has a current ratio of 2.98, a quick ratio of 2.71 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Neuronetics

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Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Neuronetics during the 4th quarter worth $389,000. Gamco Investors INC. ET AL lifted its position in Neuronetics by 13.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 67,500 shares of the company’s stock valued at $464,000 after acquiring an additional 8,000 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Neuronetics in the fourth quarter valued at $96,000. Morgan Stanley lifted its position in Neuronetics by 1,074.5% in the fourth quarter. Morgan Stanley now owns 438,459 shares of the company’s stock valued at $3,012,000 after acquiring an additional 401,126 shares during the last quarter. Finally, Man Group plc purchased a new stake in Neuronetics in the fourth quarter valued at $93,000. 62.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JMP Securities restated a “market outperform” rating and issued a $12.00 price target on shares of Neuronetics in a research note on Wednesday, March 8th. Canaccord Genuity Group dropped their price target on shares of Neuronetics from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th.

Neuronetics Company Profile

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Neuronetics, Inc commercial stage medical technology company, which engages in the designing, developing and marketing products for the patients suffering from psychiatric disorders. It operates through United States and International geographical segments. The firm offers NeuroStar TMS, a therapy system for the treatment of major depressive disorders in adult patients.