Key Points
- Myomo director Joseph Jr. Manko bought 170,830 shares on May 14 at an average price of $0.86 each, spending about $146,914. After the purchase, his stake rose by 8.10% to 2,279,408 shares.
- MYO shares were down 7.8% in recent trading, opening at $0.84. The company now has a market cap of $32.42 million and a 12-month trading range of $0.61 to $3.45.
- Wall Street sentiment remains positive, with four analysts rating Myomo a Buy and a consensus target price of $7.67. Institutional investors also hold nearly 45% of the company’s stock.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) Director Joseph Jr. Manko purchased 30,367 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $27,026.63. Following the transaction, the director owned 2,309,775 shares in the company, valued at $2,055,699.75. This represents a 1.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Myomo Price Performance
Shares of NYSEAMERICAN MYO opened at $0.84 on Tuesday. Myomo, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.45. The stock has a market cap of $32.42 million, a price-to-earnings ratio of -2.33 and a beta of 1.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.36 and a current ratio of 2.73. The firm's 50-day simple moving average is $0.76 and its 200 day simple moving average is $0.84.
Hedge Funds Weigh In On Myomo
Several large investors have recently added to or reduced their stakes in MYO. Cubist Systematic Strategies LLC lifted its position in Myomo by 157.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 49,101 shares of the company's stock valued at $236,000 after acquiring an additional 30,028 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Myomo in the 1st quarter valued at about $75,000. Jane Street Group LLC lifted its position in shares of Myomo by 84.2% during the 1st quarter. Jane Street Group LLC now owns 162,658 shares of the company's stock worth $782,000 after buying an additional 74,338 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Myomo during the 1st quarter worth approximately $114,000. Finally, Geode Capital Management LLC lifted its position in shares of Myomo by 160.8% during the 2nd quarter. Geode Capital Management LLC now owns 669,281 shares of the company's stock worth $1,446,000 after buying an additional 412,631 shares in the last quarter. Institutional investors own 44.99% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Craig Hallum reaffirmed a "buy" rating on shares of Myomo in a research report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $7.67.
Check Out Our Latest Analysis on Myomo
About Myomo
(
Get Free Report)
Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company's flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users' own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.
Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.
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