Key Points
- Myomo director Milton Mayo Morris sold 15,000 shares at an average price of $1.41, generating $21,150 and reducing his direct ownership by 6.71% to 208,391 shares.
- Myomo reported quarterly revenue of $11.70 million and an adjusted loss of $0.09 per share, slightly outperforming analyst estimates, though the company remained unprofitable.
- Analysts maintain a consensus “Buy” rating with a $10.00 price target, while institutional investors own approximately 44.99% of the stock.
Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) Director Milton Mayo Morris sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $1.41, for a total transaction of $21,150.00. Following the sale, the director directly owned 208,391 shares of the company's stock, valued at approximately $293,831.31. This represents a 6.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Myomo Stock Performance
NYSEAMERICAN:MYO opened at $1.44 on Friday. The stock has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $1.02. Myomo, Inc. has a 52-week low of $0.60 and a 52-week high of $1.89. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.01 and a current ratio of 2.31. The firm has a market capitalization of $57.04 million, a PE ratio of -4.24 and a beta of 1.50.
Myomo (NYSEAMERICAN:MYO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $11.70 million for the quarter, compared to the consensus estimate of $10.35 million. Myomo had a negative net margin of 33.53% and a negative return on equity of 138.85%. Analysts forecast that Myomo, Inc. will post -0.32 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets raised their target price on shares of Myomo from $9.50 to $10.00 and gave the company a "buy" rating in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $10.00.
View Our Latest Report on MYO
Institutional Investors Weigh In On Myomo
Institutional investors and hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in Myomo in the 4th quarter worth about $641,000. JPMorgan Chase & Co. raised its stake in shares of Myomo by 25.3% during the second quarter. JPMorgan Chase & Co. now owns 137,307 shares of the company's stock valued at $297,000 after acquiring an additional 27,739 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Myomo by 157.4% in the first quarter. Cubist Systematic Strategies LLC now owns 49,101 shares of the company's stock valued at $236,000 after purchasing an additional 30,028 shares during the period. Jump Financial LLC grew its stake in Myomo by 42.2% in the second quarter. Jump Financial LLC now owns 87,000 shares of the company's stock worth $188,000 after purchasing an additional 25,802 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Myomo during the 2nd quarter worth $134,000. 44.99% of the stock is owned by 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.
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