Rosalind Advisors Inc. Buys 356,392 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Rosalind Advisors Inc. raised its position in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,021,391 shares of the company's stock after acquiring an additional 356,392 shares during the period. Myomo makes up approximately 7.6% of Rosalind Advisors Inc.'s holdings, making the stock its 3rd biggest holding. Rosalind Advisors Inc. owned 9.99% of Myomo worth $12,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Herr Investment Group LLC grew its holdings in shares of Myomo by 72.9% during the second quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company's stock valued at $9,136,000 after buying an additional 1,200,244 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of Myomo by 40.2% during the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company's stock worth $3,606,000 after purchasing an additional 257,749 shares during the period. Bailard Inc. purchased a new stake in Myomo in the second quarter valued at approximately $109,000. Accel Wealth Management boosted its position in Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company's stock valued at $141,000 after buying an additional 2,500 shares during the last quarter. Finally, AIGH Capital Management LLC increased its holdings in Myomo by 4.1% in the 2nd quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company's stock worth $9,367,000 after buying an additional 115,405 shares during the period. 44.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on MYO. 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. Craig Hallum assumed coverage on shares of Myomo in a research report on Wednesday, July 31st. They issued a "buy" rating and a $7.00 price objective for the company. Lake Street Capital raised their target price on Myomo from $7.00 to $7.50 and gave the company a "buy" rating in a research report on Tuesday, July 9th. Finally, HC Wainwright upped their price target on Myomo from $6.50 to $7.50 and gave the stock a "buy" rating in a report on Monday, August 12th.

Myomo Stock Performance

Shares of Myomo stock traded up $0.23 on Wednesday, reaching $4.19. 310,510 shares of the company were exchanged, compared to its average volume of 110,655. Myomo, Inc. has a 1-year low of $1.56 and a 1-year high of $5.64. The company has a market cap of $126.66 million, a PE ratio of -16.12 and a beta of 1.56.

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