Perkins Capital Management Inc. Takes Position in Myomo, Inc. (NYSEAMERICAN:MYO)

Perkins Capital Management Inc. acquired a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 75,000 shares of the company's stock, valued at approximately $483,000. Perkins Capital Management Inc. owned approximately 0.25% of Myomo at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Stonepine Capital Management LLC bought a new stake in Myomo during the 3rd quarter valued at $401,000. Jane Street Group LLC purchased a new position in shares of Myomo during the third quarter valued at $65,000. XTX Topco Ltd bought a new stake in shares of Myomo in the third quarter valued at about $149,000. Barclays PLC purchased a new stake in Myomo in the third quarter worth about $36,000. Finally, Calamos Advisors LLC bought a new position in Myomo during the 4th quarter worth about $189,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Myomo

In other Myomo news, insider Micah Mitchell sold 48,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.16, for a total transaction of $247,680.00. Following the sale, the insider now owns 140,572 shares of the company's stock, valued at approximately $725,351.52. The trade was a 25.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harry Kovelman sold 30,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was 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 directly owns 97,973 shares of the company's stock, valued at approximately $538,851.50. This represents a 23.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.54% of the company's stock.

Myomo Stock Down 2.8 %

MYO traded down $0.14 during trading on Friday, hitting $4.86. The stock had a trading volume of 178,004 shares, compared to its average volume of 337,793. Myomo, Inc. has a twelve month low of $2.51 and a twelve month high of $7.17. The company has a market cap of $147.02 million, a price-to-earnings ratio of -21.13 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MYO shares. Alliance Global Partners restated a "buy" rating on shares of Myomo in a report on Tuesday, March 11th. HC Wainwright boosted their price objective on shares of Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Ascendiant Capital Markets increased their target price on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Craig Hallum lifted their price target on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $9.75.

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.