Myomo, Inc. (NYSEAMERICAN:MYO) Insider Sells 30,000 Shares

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 30,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total value of $165,000.00. Following the completion of the transaction, the insider now directly owns 97,973 shares in the company, valued at $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Myomo Trading Up 2.4 %

Shares of NYSEAMERICAN MYO opened at $5.19 on Friday. Myomo, Inc. has a 52-week low of $2.51 and a 52-week high of $7.17. The stock has a market capitalization of $157.00 million, a price-to-earnings ratio of -22.57 and a beta of 1.68.

Institutional Investors Weigh In On Myomo

A number of hedge funds have recently made changes to their positions in MYO. GSA Capital Partners LLP boosted its stake in Myomo by 60.8% during the 3rd quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock valued at $414,000 after purchasing an additional 39,085 shares in the last quarter. Stonepine Capital Management LLC bought a new position in Myomo during the third quarter valued at about $401,000. Jane Street Group LLC bought a new position in Myomo during the third quarter valued at about $65,000. XTX Topco Ltd acquired a new position in Myomo during the third quarter worth about $149,000. Finally, Barclays PLC bought a new stake in Myomo in the third quarter worth about $36,000. Institutional investors own 44.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum upped their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright lifted their price target on shares of Myomo from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Alliance Global Partners reissued a “buy” rating on shares of Myomo in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Myomo has an average rating of “Buy” and a consensus target price of $9.25.

Myomo Company Profile

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.