Cubist Systematic Strategies LLC Reduces Position in Neuronetics, Inc. (NASDAQ:STIM)

Cubist Systematic Strategies LLC reduced its position in Neuronetics, Inc. (NASDAQ:STIM) by 73.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,211 shares of the company’s stock after selling 39,283 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Neuronetics were worth $26,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Legato Capital Management LLC bought a new position in shares of Neuronetics in the second quarter worth about $44,000. SG Americas Securities LLC purchased a new stake in Neuronetics in the 1st quarter valued at about $62,000. Gabelli Funds LLC grew its stake in Neuronetics by 88.2% in the 2nd quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after acquiring an additional 22,500 shares in the last quarter. FourWorld Capital Management LLC purchased a new position in shares of Neuronetics during the first quarter worth approximately $171,000. Finally, Dorsey & Whitney Trust CO LLC increased its position in shares of Neuronetics by 97.1% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 95,880 shares of the company’s stock worth $173,000 after acquiring an additional 47,228 shares during the period. Institutional investors own 53.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STIM shares. JMP Securities dropped their price objective on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Wednesday, August 14th. Canaccord Genuity Group lowered their target price on Neuronetics from $6.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, William Blair restated a “market perform” rating on shares of Neuronetics in a research note on Monday, August 12th.

Neuronetics Stock Performance

Shares of NASDAQ:STIM opened at $0.86 on Wednesday. The firm has a 50 day moving average of $1.01 and a 200 day moving average of $2.12. The company has a quick ratio of 2.37, a current ratio of 2.58 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $25.80 million, a price-to-earnings ratio of -0.90 and a beta of 2.27. Neuronetics, Inc. has a 52 week low of $0.66 and a 52 week high of $5.07.

Neuronetics (NASDAQ:STIM) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The company had revenue of $16.45 million during the quarter, compared to analysts’ expectations of $18.76 million. Neuronetics had a negative net margin of 45.06% and a negative return on equity of 109.00%. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, sell-side analysts predict that Neuronetics, Inc. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert Cascella acquired 35,000 shares of Neuronetics stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $0.79 per share, for a total transaction of $27,650.00. Following the purchase, the director now directly owns 279,098 shares in the company, valued at $220,487.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Neuronetics news, CEO Keith J. Sullivan sold 24,162 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $1.90, for a total value of $45,907.80. Following the completion of the sale, the chief executive officer now directly owns 1,324,354 shares in the company, valued at approximately $2,516,272.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Cascella purchased 35,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $0.79 per share, for a total transaction of $27,650.00. Following the purchase, the director now directly owns 279,098 shares of the company’s stock, valued at approximately $220,487.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 211,776 shares of company stock worth $175,170. Corporate insiders own 9.80% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.