Myomo, Inc. (NYSEAMERICAN:MYO) Insider Sells $165,000.00 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 30,000 shares of the firm'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 transaction, the insider now directly owns 97,973 shares in the company, valued at $538,851.50. The trade was a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Myomo Stock Performance

NYSEAMERICAN MYO traded up $0.25 during trading on Monday, hitting $5.44. The stock had a trading volume of 507,524 shares, compared to its average volume of 335,248. The stock has a market capitalization of $164.56 million, a price-to-earnings ratio of -23.65 and a beta of 1.68. Myomo, Inc. has a 12 month low of $2.51 and a 12 month high of $7.17.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Soleus Capital Management L.P. acquired a new position in Myomo during the fourth quarter worth approximately $5,796,000. AIGH Capital Management LLC boosted its stake in shares of Myomo by 21.7% during the 4th 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 during the period. Portolan Capital Management LLC acquired a new position in shares of Myomo during the 4th quarter worth approximately $2,446,000. Manatuck Hill Partners LLC bought a new stake in Myomo in the 4th quarter valued at $1,582,000. Finally, Aristides Capital LLC acquired a new stake in Myomo during the 4th quarter valued at $1,288,000. Institutional investors and hedge funds own 44.99% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

MYO has been the topic of several research analyst reports. Ascendiant Capital Markets raised their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday. HC Wainwright upped their price target on 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 objective on shares of Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Myomo in a report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Myomo presently has a consensus rating of "Buy" and an average target price of $9.75.

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.