Ascendiant Capital Markets Boosts Myomo (NYSEAMERICAN:MYO) Price Target to $11.00

Myomo (NYSEAMERICAN:MYO - Get Free Report) had its target price raised by investment analysts at Ascendiant Capital Markets from $9.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Ascendiant Capital Markets' target price indicates a potential upside of 104.46% from the stock's previous close.

Several other analysts also recently issued reports on MYO. HC Wainwright increased their price objective on shares of Myomo from $7.50 to $9.50 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Craig Hallum raised their price target on shares of Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Myomo currently has a consensus rating of "Buy" and an average target price of $9.75.

Myomo Trading Down 0.7 %

NYSEAMERICAN MYO traded down $0.04 during trading hours on Monday, hitting $5.38. The company had a trading volume of 331,670 shares, compared to its average volume of 337,142. Myomo has a fifty-two week low of $2.51 and a fifty-two week high of $7.17. The company has a market cap of $162.75 million, a P/E ratio of -23.39 and a beta of 1.68.

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Insider Activity

In other Myomo news, insider Micah Mitchell sold 48,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $5.16, for a total transaction of $247,680.00. Following the transaction, the insider now owns 140,572 shares of the company's stock, valued at $725,351.52. This trade represents a 25.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Harry Kovelman sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total value of $165,000.00. Following the completion of the sale, the insider now owns 97,973 shares of the company's stock, valued at $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.54% of the company's stock.

Hedge Funds Weigh In On Myomo

Several large investors have recently added to or reduced their stakes in MYO. AIGH Capital Management LLC grew its holdings in shares of Myomo by 21.7% during the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company's stock valued at $21,777,000 after purchasing an additional 602,719 shares during the last quarter. Soleus Capital Management L.P. acquired a new position in Myomo during the 4th quarter valued at approximately $5,796,000. Portolan Capital Management LLC bought a new position in Myomo during the 4th quarter worth $2,446,000. Stonepine Capital Management LLC increased its position in Myomo by 174.4% in the fourth quarter. Stonepine Capital Management LLC now owns 274,426 shares of the company's stock worth $1,767,000 after buying an additional 174,426 shares during the period. Finally, Manatuck Hill Partners LLC bought a new stake in Myomo in the fourth quarter valued at $1,582,000. 44.99% of the stock is currently owned by institutional investors.

Myomo Company Profile

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.