Cubist Systematic Strategies LLC Sells 39,283 Shares of Neuronetics, Inc. (NASDAQ:STIM)

Cubist Systematic Strategies LLC reduced its position in shares of Neuronetics, Inc. (NASDAQ:STIM) by 73.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,211 shares of the company’s stock after selling 39,283 shares during the period. Cubist Systematic Strategies LLC’s holdings in Neuronetics were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legato Capital Management LLC bought a new stake in shares of Neuronetics during the second quarter worth about $44,000. SG Americas Securities LLC bought a new stake in shares of Neuronetics during the first quarter worth about $62,000. Gabelli Funds LLC grew its holdings in shares of Neuronetics by 88.2% during the second quarter. Gabelli Funds LLC now owns 48,000 shares of the company’s stock worth $86,000 after purchasing an additional 22,500 shares during the last quarter. FourWorld Capital Management LLC bought a new stake in shares of Neuronetics during the first quarter worth about $171,000. Finally, Dorsey & Whitney Trust CO LLC grew its holdings 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 purchasing an additional 47,228 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

Neuronetics Price Performance

Neuronetics stock opened at $0.92 on Thursday. The stock has a market capitalization of $27.48 million, a price-to-earnings ratio of -0.95 and a beta of 2.27. Neuronetics, Inc. has a 52-week low of $0.66 and a 52-week high of $5.07. The stock’s 50 day moving average price is $0.90 and its two-hundred day moving average price is $1.98. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.37 and a current ratio of 2.58.

Neuronetics (NASDAQ:STIM) last posted 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 business had revenue of $16.45 million for the quarter, compared to the consensus estimate of $18.76 million. Neuronetics had a negative return on equity of 109.00% and a negative net margin of 45.06%. During the same quarter in the previous year, the company posted ($0.17) earnings per share. On average, equities analysts predict that Neuronetics, Inc. will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Neuronetics news, Director Robert Cascella purchased 100,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $0.75 per share, for a total transaction of $75,000.00. Following the acquisition, the director now owns 453,098 shares of the company’s stock, valued at approximately $339,823.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 211,776 shares of company stock worth $175,170. Corporate insiders own 9.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. William Blair reiterated a “market perform” rating on shares of Neuronetics in a report on Monday, August 12th. JMP Securities reduced their target price on Neuronetics from $7.00 to $3.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 14th. Finally, Canaccord Genuity Group reduced their target price on Neuronetics from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

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.