Myomo (NYSEAMERICAN:MYO) Insider Harry Kovelman Sells 17,250 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 17,250 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $1.73, for a total transaction of $29,842.50. Following the completion of the transaction, the insider directly owned 105,983 shares of the company’s stock, valued at $183,350.59. This trade represents a 14.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Harry Kovelman also recently made the following trade(s):

• On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total value of $20,464.00.
• On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The shares were sold at an average price of $1.02, for a total value of $11,766.72.

Myomo Trading Down 0.6%

Shares of NYSEAMERICAN:MYO opened at $1.73 on Friday. The company has a market capitalization of $68.53 million, a PE ratio of -5.09 and a beta of 1.50. The company has a current ratio of 2.31, a quick ratio of 2.01 and a debt-to-equity ratio of 1.98. Myomo, Inc. has a 12-month low of $0.60 and a 12-month high of $1.89. The business’s fifty day simple moving average is $1.22 and its 200-day simple moving average is $0.97.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%.The firm had revenue of $11.70 million during the quarter, compared to analysts’ expectations of $10.35 million. As a group, equities research analysts predict that Myomo, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their price objective on shares of Myomo from $9.50 to $10.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Myomo currently has a consensus rating of “Buy” and a consensus price target of $10.00.

Institutional Investors Weigh In On Myomo

Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Myomo during the fourth quarter valued at about $148,000. AQR Capital Management LLC grew its position in Myomo by 47.8% during the 4th quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock worth $395,000 after purchasing an additional 140,427 shares during the last quarter. State Street Corp grew its position in Myomo by 5.1% during the 4th quarter. State Street Corp now owns 399,853 shares of the company’s stock worth $364,000 after purchasing an additional 19,563 shares during the last quarter. Wells Fargo & Company MN increased its stake in Myomo by 103.1% during the 4th quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock valued at $35,000 after purchasing an additional 19,646 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Myomo during the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

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.