Joseph Jr. Manko Acquires 170,830 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Joseph Jr. Manko acquired 170,830 shares of Myomo stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $0.86 per share, with a total value of $146,913.80. Following the purchase, the director directly owned 2,279,408 shares of the company’s stock, valued at approximately $1,960,290.88. This trade represents a 8.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Myomo Price Performance

Shares of NYSEAMERICAN MYO traded down $0.07 during midday trading on Monday, hitting $0.84. The company had a trading volume of 429,115 shares, compared to its average volume of 419,367. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 1.21. Myomo, Inc. has a twelve month low of $0.61 and a twelve month high of $3.45. The business has a 50-day simple moving average of $0.76 and a two-hundred day simple moving average of $0.85. The firm has a market capitalization of $32.42 million, a price-to-earnings ratio of -2.33 and a beta of 1.39.

Wall Street Analyst Weigh In

Separately, Craig Hallum reiterated a “buy” rating on shares of Myomo in a research note on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $7.67.

Hedge Funds Weigh In On Myomo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Myomo during the first quarter worth about $75,000. Invesco Ltd. acquired a new position in Myomo during the second quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Myomo during the second quarter worth about $38,000. Acadian Asset Management LLC acquired a new position in Myomo during the first quarter worth about $114,000. Finally, Engineers Gate Manager LP raised its position in Myomo by 62.8% during the second quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock worth $65,000 after acquiring an additional 11,614 shares during the last quarter. Institutional investors and hedge funds own 44.99% of the company’s stock.

About Myomo

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.