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In recent transactions, Keith J. Sullivan, President and CEO of Neuronetics , Inc. (NASDAQ:STIM), sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock trades near its 52-week high of $5.07, having delivered an impressive 337% return over the past six months. On February 18, Sullivan sold 25,934 shares at a weighted average price of $4.41, with prices ranging from $4.29 to $4.55. The following day, February 19, he sold an additional 24,440 shares at a weighted average price of $4.7, with prices ranging from $4.60 to $4.77. The total value of these transactions amounted to $229,236. These sales were conducted to satisfy tax withholding obligations related to the vesting of a restricted stock unit award. According to InvestingPro, the company’s market capitalization stands at $264 million, with 12 more exclusive insights available to subscribers. Following these transactions, Sullivan retains ownership of 1,232,988 shares of Neuronetics. The stock has shown significant momentum, with a 14% gain in the past week and a 177% return year-to-date, as revealed by InvestingPro data.
In other recent news, Neuronetics, Inc. announced its preliminary unaudited revenue figures for the fourth quarter and full year of 2024. The company reported revenues of $22.1 million for the fourth quarter and $74.5 million for the year. Following its acquisition of Greenbrook TMS, Neuronetics revealed pro forma consolidated revenue of $34.7 million for the fourth quarter and $129.8 million for the entire year. The acquisition is expected to drive revenue growth and cost savings, with the company identifying over $22 million in annualized cost synergies, of which more than 90% have been implemented. Looking ahead, Neuronetics projects a revenue range of $145.0 million to $155.0 million for 2025, alongside a gross margin of approximately 55% and operating expenses between $90.0 million and $98.0 million. Additionally, Neuronetics launched a public stock offering, with Canaccord Genuity LLC acting as the sole bookrunner. This offering includes a 30-day option for the underwriter to purchase an additional 15% of the shares sold. The company cautions that the offering’s completion is subject to market conditions and other factors.
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