Insider Buying: Myomo, Inc. (NYSEAMERICAN:MYO) Director Purchases 50,000 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas F. Kirk acquired 50,000 shares of Myomo stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $3.35 per share, for a total transaction of $167,500.00. Following the purchase, the director now owns 305,933 shares of the company’s stock, valued at approximately $1,024,875.55. This represents a 19.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Myomo Stock Down 0.6%

Shares of NYSEAMERICAN MYO opened at $3.23 on Friday. Myomo, Inc. has a 1 year low of $2.76 and a 1 year high of $7.17. The company has a 50-day simple moving average of $4.64. The company has a market cap of $97.71 million, a price-to-earnings ratio of -14.04 and a beta of 1.68.

Hedge Funds Weigh In On Myomo

A number of hedge funds and other institutional investors have recently bought and sold shares of MYO. Jane Street Group LLC bought a new position in shares of Myomo during the third quarter worth $65,000. Barclays PLC acquired a new stake in Myomo during the 3rd quarter worth $36,000. Russell Investments Group Ltd. bought a new position in Myomo during the fourth quarter worth about $229,000. JPMorgan Chase & Co. acquired a new position in Myomo in the fourth quarter valued at about $581,000. Finally, AIGH Capital Management LLC increased its holdings in shares of Myomo by 21.7% in the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock worth $21,777,000 after acquiring an additional 602,719 shares in the last quarter. 44.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Alliance Global Partners restated a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. HC Wainwright raised their price target on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 12th. Ascendiant Capital Markets upped their price objective on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Craig Hallum decreased their price objective on Myomo from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.50.

About Myomo

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.