Key Points
- Myomo director Thomas Kirk bought 40,002 shares on June 5 at an average price of $1.27, spending about $50,803. After the purchase, he owned 693,865 shares, a 6.12% increase in his position.
- Analyst sentiment remains positive, with Ascendiant Capital Markets raising its price target to $10 and four analysts rating the stock a Buy. The consensus target price is $7.67.
- Institutional investors hold a significant stake in Myomo, with hedge funds and other institutions owning 44.99% of the company. Recent filings show several firms increasing their positions, including Geode Capital Management and AQR Capital Management.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) Director Thomas Kirk purchased 40,002 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $1.27 per share, for a total transaction of $50,802.54. Following the completion of the acquisition, the director directly owned 693,865 shares of the company's stock, valued at $881,208.55. This represents a 6.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Myomo Stock Performance
Shares of NYSEAMERICAN MYO opened at $1.31 on Wednesday. The company's fifty day moving average price is $0.88 and its 200 day moving average price is $0.87. Myomo, Inc. has a 1 year low of $0.61 and a 1 year high of $2.99. The company has a market capitalization of $50.62 million, a PE ratio of -3.64 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.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MYO. Ascendiant Capital Markets increased their price target on shares of Myomo from $9.50 to $10.00 and gave the stock a "buy" rating in a report on Monday. Craig Hallum reaffirmed a "buy" rating on shares of Myomo in a report on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $7.67.
Check Out Our Latest Research Report on Myomo
Hedge Funds Weigh In On Myomo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. lifted its holdings in Myomo by 1.3% during the fourth quarter. Rosalind Advisors Inc. now owns 3,839,772 shares of the company's stock valued at $3,494,000 after purchasing an additional 48,984 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Myomo during the fourth quarter valued at $641,000. Geode Capital Management LLC lifted its holdings in Myomo by 160.8% during the second quarter. Geode Capital Management LLC now owns 669,281 shares of the company's stock valued at $1,446,000 after purchasing an additional 412,631 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Myomo by 47.8% during the fourth quarter. AQR Capital Management LLC now owns 434,376 shares of the company's stock valued at $395,000 after purchasing an additional 140,427 shares in the last quarter. Finally, State Street Corp raised its position in shares of Myomo by 5.1% in the fourth quarter. State Street Corp now owns 399,853 shares of the company's stock valued at $364,000 after buying an additional 19,563 shares during the last quarter. 44.99% of the stock is owned by hedge funds and other institutional investors.
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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