Myomo (NYSEAMERICAN:MYO) Director Purchases $39,494.91 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk purchased 43,401 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $0.91 per share, with a total value of $39,494.91. Following the purchase, the director directly owned 628,863 shares in the company, valued at $572,265.33. This trade represents a 7.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Myomo Price Performance

MYO stock traded down $0.07 during mid-day trading on Monday, reaching $0.84. 430,602 shares of the company traded hands, compared to its average volume of 350,290. 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 company has a market capitalization of $32.42 million, a P/E ratio of -2.33 and a beta of 1.39. Myomo, Inc. has a 52-week low of $0.61 and a 52-week high of $3.45. The company has a fifty day moving average price of $0.76 and a 200-day moving average price of $0.84.

Institutional Investors Weigh In On Myomo

Several hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP boosted 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 worth $65,000 after acquiring an additional 11,614 shares in the last quarter. Bank of America Corp DE boosted 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 worth $27,000 after acquiring an additional 14,705 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Myomo in the first quarter worth $75,000. Invesco Ltd. bought a new stake in Myomo in the second quarter worth $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Myomo in the second quarter worth $38,000. 44.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.