Neuronetics tumbles on stock sale plans

Neuronetics

06/02/2025 21:47

**  Shares of medtech firm Neuronetics  STIM.O  down 18.8% at
$2.89 post-market as co seeks equity raise
** Malvern, Pennsylvania-based co, which offers its NeuroStar
Therapy to treat major depressive disorder, launches stock
offering
** Targeted deal size not disclosed
** Co has ~55.65 mln shares outstanding for roughly $200 mln
market value and ~27 mln shares of public float, according to
LSEG data
** Canaccord Genuity is sole bookrunner for offering
** STIM shares on Thurs rose 8.9% to close at $3.56. YTD, stock
up 121%
** Avg rating among 4 analysts is "buy" with $3 median PT - LSEG
     

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@tr.com 1-646-279-6380))