BUZZ-Neuronetics tumbles on stock sale plans

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