Myomo, Inc. (NYSEAMERICAN:MYO) Shares Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lifted its holdings in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 40.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 899,135 shares of the company's stock after acquiring an additional 257,749 shares during the quarter. Essex Investment Management Co. LLC owned approximately 2.97% of Myomo worth $3,606,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bailard Inc. bought a new stake in shares of Myomo in the second quarter valued at $109,000. Accel Wealth Management bought a new stake in Myomo during the first quarter valued at about $135,000. PFG Advisors grew its position in Myomo by 74.8% in the first quarter. PFG Advisors now owns 46,760 shares of the company's stock worth $153,000 after acquiring an additional 20,016 shares in the last quarter. Herr Investment Group LLC raised its stake in shares of Myomo by 67.9% during the first 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 in the last quarter. Finally, Rosalind Advisors Inc. grew its holdings in Myomo by 8.9% in the second quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company's stock worth $8,555,000 after purchasing an additional 217,259 shares during the last quarter. 44.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MYO shares. Ascendiant Capital Markets lifted their target price on shares of Myomo from $8.25 to $8.50 and gave the company a "buy" rating in a report on Monday, August 19th. HC Wainwright raised their price target on shares of Myomo from $6.50 to $7.50 and gave the company a "buy" rating in a report on Monday, August 12th. Craig Hallum began coverage on shares of Myomo in a research note on Wednesday, July 31st. They set a "buy" rating and a $7.00 target price on the stock. Finally, Lake Street Capital raised their price target on shares of Myomo from $7.00 to $7.50 and gave the stock a "buy" rating in a report on Tuesday, July 9th.

Myomo Stock Up 1.3 %

Shares of NYSEAMERICAN:MYO traded up $0.05 on Friday, hitting $3.87. The company's stock had a trading volume of 151,177 shares, compared to its average volume of 347,766. Myomo, Inc. has a 1 year low of $1.06 and a 1 year high of $5.64. The stock has a market cap of $116.99 million, a P/E ratio of -14.88 and a beta of 1.54.

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

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.