Myomo (NYSEAMERICAN:MYO) Director Purchases $51,120.00 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk bought 72,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $0.71 per share, for a total transaction of $51,120.00. Following the transaction, the director directly owned 553,857 shares of the company’s stock, valued at approximately $393,238.47. This represents a 14.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO traded up $0.04 during trading hours on Monday, reaching $0.74. The stock had a trading volume of 336,128 shares, compared to its average volume of 506,524. The firm has a 50-day moving average of $0.84 and a 200-day moving average of $0.91. The firm has a market cap of $28.49 million, a price-to-earnings ratio of -2.00 and a beta of 1.17. The company has a current ratio of 3.30, a quick ratio of 2.93 and a debt-to-equity ratio of 0.98. Myomo, Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $5.62.

Hedge Funds Weigh In On Myomo

A number of hedge funds and other institutional investors have recently bought and sold shares of MYO. Bank of America Corp DE increased its stake in Myomo by 93.6% in the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock valued at $27,000 after buying an additional 14,705 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Myomo by 103.1% in the 4th quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock worth $35,000 after acquiring an additional 19,646 shares during the period. Invesco Ltd. acquired a new stake in shares of Myomo in the 2nd quarter worth $37,000. Intech Investment Management LLC purchased a new stake in shares of Myomo in the second quarter valued at about $38,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Myomo during the second quarter worth about $38,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MYO shares. Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Ascendiant Capital Markets decreased their price target on shares of Myomo from $10.50 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $7.67.

Myomo Company Profile

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company’s flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users’ own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.