Renaissance Technologies LLC Sells 146,616 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Renaissance Technologies LLC reduced its stake in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 52.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,084 shares of the company's stock after selling 146,616 shares during the period. Renaissance Technologies LLC owned about 0.47% of Myomo worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MYO. Accel Wealth Management bought a new stake in shares of Myomo during the first quarter worth about $135,000. Essex Investment Management Co. LLC grew its holdings in Myomo by 537.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company's stock worth $1,971,000 after acquiring an additional 508,249 shares during the last quarter. PFG Advisors increased its position in Myomo by 74.8% in the 1st quarter. PFG Advisors now owns 46,760 shares of the company's stock valued at $153,000 after acquiring an additional 20,016 shares during the period. Herr Investment Group LLC increased its position in Myomo by 67.9% in the 1st quarter. Herr Investment Group LLC now owns 1,645,827 shares of the company's stock valued at $5,382,000 after acquiring an additional 665,330 shares during the period. Finally, Rosalind Advisors Inc. raised its stake in shares of Myomo by 8.9% during the second quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company's stock valued at $8,555,000 after acquiring an additional 217,259 shares during the last quarter. 44.99% of the stock is owned by institutional investors.

Myomo Stock Performance

MYO stock traded up $0.05 during mid-day trading on Friday, reaching $3.87. The company's stock had a trading volume of 151,108 shares, compared to its average volume of 347,766. Myomo, Inc. has a 12 month low of $1.06 and a 12 month high of $5.64. The company has a market cap of $116.99 million, a P/E ratio of -14.73 and a beta of 1.54.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The company had revenue of $7.52 million for the quarter, compared to the consensus estimate of $7.30 million. Myomo had a negative net margin of 44.75% and a negative return on equity of 93.10%. On average, research analysts predict that Myomo, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

MYO has been the subject of a number of recent research reports. Craig Hallum began coverage on Myomo in a report on Wednesday, July 31st. They issued a "buy" rating and a $7.00 price objective for the company. HC Wainwright lifted their price objective on Myomo from $6.50 to $7.50 and gave the stock a "buy" rating in a research note on Monday, August 12th. Lake Street Capital increased their target price on shares of Myomo from $7.00 to $7.50 and gave the company a "buy" rating in a research report on Tuesday, July 9th. Finally, Ascendiant Capital Markets raised their price target on shares of Myomo from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Monday, August 19th.

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.