Harry Kovelman Sells 11,536 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 11,536 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were 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 in the company, valued at $110,790.36. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 Performance

Shares of Myomo stock opened at $1.09 on Friday. Myomo, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.73 and a quick ratio of 2.36. The firm has a market capitalization of $42.12 million, a P/E ratio of -3.03 and a beta of 1.39. The company’s 50 day moving average price is $0.81 and its two-hundred day moving average price is $0.85.

Wall Street Analyst Weigh In

Separately, Craig Hallum restated a “buy” rating on shares of Myomo in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.67.

Hedge Funds Weigh In On Myomo

A number of hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP lifted its holdings in Myomo by 62.8% in the second 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 period. Bank of America Corp DE lifted its holdings in Myomo by 93.6% in the third quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock valued at $27,000 after buying an additional 14,705 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Myomo in the first quarter valued at $75,000. Invesco Ltd. acquired a new position in Myomo in the second quarter valued at $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Myomo in the second quarter valued at $38,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

About Myomo

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.