Sonendo, Inc. (NYSE:SONX – Get Rating) CEO Bjarne Bergheim purchased 6,452 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $2.74 per share, for a total transaction of $17,678.48. Following the completion of the acquisition, the chief executive officer now directly owns 927,549 shares in the company, valued at approximately $2,541,484.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bjarne Bergheim also recently made the following trade(s):

• On Wednesday, May 25th, Bjarne Bergheim purchased 11,748 shares of Sonendo stock. The stock was bought at an average price of $2.60 per share, for a total transaction of $30,544.80.
• On Wednesday, May 18th, Bjarne Bergheim purchased 12,000 shares of Sonendo stock. The stock was bought at an average price of $2.67 per share, for a total transaction of $32,040.00.
• On Monday, May 16th, Bjarne Bergheim purchased 30,000 shares of Sonendo stock. The stock was bought at an average price of $2.95 per share, for a total transaction of $88,500.00.
• On Friday, May 13th, Bjarne Bergheim sold 4,101 shares of Sonendo stock. The stock was sold at an average price of $2.78, for a total value of $11,400.78.

SONX traded up $0.12 on Thursday, reaching $2.75. 47,514 shares of the stock were exchanged, compared to its average volume of 136,935. The company’s 50-day moving average price is $3.08 and its 200 day moving average price is $5.56. Sonendo, Inc. has a fifty-two week low of $2.50 and a fifty-two week high of $12.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.02 and a current ratio of 6.86.

Sonendo (NYSE:SONX – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). As a group, research analysts predict that Sonendo, Inc. will post -2.24 EPS for the current year.

A number of analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Sonendo from $12.00 to $7.00 in a research report on Wednesday, May 11th. Zacks Investment Research raised Sonendo from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Finally, The Goldman Sachs Group lowered their price objective on Sonendo from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.32.

A number of institutional investors and hedge funds have recently modified their holdings of SONX. Bank of America Corp DE purchased a new position in shares of Sonendo during the 4th quarter valued at about $31,000. Wealthsource Partners LLC purchased a new position in shares of Sonendo during the 1st quarter valued at about $40,000. Northern Trust Corp purchased a new position in shares of Sonendo during the 4th quarter valued at about $76,000. Cubist Systematic Strategies LLC purchased a new position in shares of Sonendo during the 4th quarter valued at about $82,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Sonendo during the 4th quarter valued at about $115,000. 80.42% of the stock is owned by institutional investors.

About Sonendo (Get Rating)

Sonendo, Inc, a commercial-stage medical technology company, develops, manufactures, and commercializes devices for root canal therapy in the United States and Canada. It provides GentleWave, a tooth decay treatment device for cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure.

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