Essex Investment Management Co. LLC Lowers Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

Essex Investment Management Co. LLC lessened its holdings in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 793,697 shares of the company's stock after selling 105,438 shares during the period. Myomo comprises 0.9% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 28th biggest holding. Essex Investment Management Co. LLC owned 2.62% of Myomo worth $5,111,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Stonepine Capital Management LLC purchased a new position in Myomo during the 3rd quarter worth $401,000. GSA Capital Partners LLP lifted its position in shares of Myomo by 60.8% during the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company's stock valued at $414,000 after purchasing an additional 39,085 shares in the last quarter. Palumbo Wealth Management LLC purchased a new position in Myomo during the fourth quarter worth about $242,000. XTX Topco Ltd bought a new stake in Myomo in the 3rd quarter worth about $149,000. Finally, Calamos Advisors LLC purchased a new stake in Myomo in the 4th quarter valued at about $189,000. Institutional investors own 44.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MYO. Craig Hallum boosted their target price on Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday. HC Wainwright boosted their price objective on Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Alliance Global Partners restated a "buy" rating on shares of Myomo in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Myomo has a consensus rating of "Buy" and an average target price of $9.25.

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Insider Buying and Selling at Myomo

In other Myomo news, insider Harry Kovelman sold 30,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total transaction of $165,000.00. Following the completion of the transaction, the insider now owns 97,973 shares in the company, valued at $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.54% of the stock is owned by corporate insiders.

Myomo Stock Down 6.6 %

Shares of MYO stock traded down $0.36 during trading hours on Thursday, hitting $5.07. 732,125 shares of the company were exchanged, compared to its average volume of 332,893. The firm has a market cap of $153.37 million, a P/E ratio of -22.04 and a beta of 1.68. Myomo, Inc. has a 52-week low of $2.51 and a 52-week high of $7.17.

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.