Key Points
- Myomo insider Harry Kovelman sold 11,536 shares on May 28 at an average price of $1.02, totaling about $11,767. The sale reduced his position by 9.6%, leaving him with 108,618 shares.
- Kovelman also sold 20,464 shares the previous day, May 27, at an average price of $1.00, indicating back-to-back insider selling activity.
- Despite the insider sales, analysts remain positive on Myomo, with four Buy ratings and an average price target of $7.67, while the stock recently traded around $1.09 and was up 9.0%.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 11,536 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.02, for a total transaction of $11,766.72. Following the completion of the sale, the insider owned 108,618 shares of the company's stock, valued at approximately $110,790.36. The trade was a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Harry Kovelman also recently made the following trade(s):
- On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total transaction of $20,464.00.
Myomo Stock Up 9.0%
Myomo stock opened at $1.09 on Friday. The company has a market capitalization of $42.12 million, a P/E ratio of -3.03 and a beta of 1.39. The firm's fifty day simple moving average is $0.81 and its 200-day simple moving average is $0.85. The company has a current ratio of 2.73, a quick ratio of 2.36 and a debt-to-equity ratio of 1.21. Myomo, Inc. has a 1-year low of $0.61 and a 1-year high of $3.14.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC bought a new position in shares of Myomo during the 2nd quarter valued at $98,000. Engineers Gate Manager LP grew its stake in Myomo by 62.8% in the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company's stock valued at $65,000 after buying an additional 11,614 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Myomo in the 2nd quarter valued at $38,000. New York State Common Retirement Fund acquired a new position in Myomo in the 2nd quarter valued at $97,000. Finally, XTX Topco Ltd acquired a new position in Myomo in the 2nd quarter valued at $134,000. Institutional investors own 44.99% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Craig Hallum restated a "buy" rating on shares of Myomo in a report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $7.67.
Get Our Latest Research Report on MYO
Myomo Company Profile
(
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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