Key Points
- Myomo director Thomas Kirk bought 25,000 shares on May 28 at an average price of $0.99, totaling $24,750. After the purchase, he owned 653,863 shares, a 3.98% increase in his position.
- MYO shares rose 6.4% and opened at $1.16, with the stock trading near the lower end of its 52-week range of $0.61 to $3.08. The company currently has a market value of about $44.8 million.
- Analysts remain bullish on Myomo, with four analysts rating the stock a Buy and a consensus target price of $7.67. The company also has notable institutional ownership, with hedge funds and other institutions holding about 44.99% of shares.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) Director Thomas Kirk purchased 25,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $0.99 per share, for a total transaction of $24,750.00. Following the completion of the acquisition, the director directly owned 653,863 shares in the company, valued at approximately $647,324.37. This represents a 3.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
Myomo Stock Up 6.4%
NYSEAMERICAN:MYO opened at $1.16 on Tuesday. Myomo, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.08. The stock has a market capitalization of $44.82 million, a P/E ratio of -3.22 and a beta of 1.47. 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 company's 50-day simple moving average is $0.82 and its 200-day simple moving average is $0.85.
Wall Street Analysts Forecast Growth
Separately, Craig Hallum restated a "buy" rating on shares of Myomo in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $7.67.
Check Out Our Latest Stock Report on Myomo
Hedge Funds Weigh In On Myomo
A number of institutional investors have recently bought and sold shares of MYO. Bank of America Corp DE raised its position in Myomo by 93.6% during the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company's stock worth $27,000 after buying an additional 14,705 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Myomo by 103.1% during the 4th quarter. Wells Fargo & Company MN now owns 38,707 shares of the company's stock valued at $35,000 after purchasing an additional 19,646 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Myomo during the 2nd quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Myomo during the 2nd quarter valued at approximately $38,000. Finally, Jane Street Group LLC purchased a new position in shares of Myomo during the 4th quarter valued at approximately $64,000. 44.99% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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