Myomo, Inc. (NYSEAMERICAN:MYO) Insider Sells $247,680.00 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Micah Mitchell sold 48,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.16, for a total transaction of $247,680.00. Following the completion of the sale, the insider now directly owns 140,572 shares of the company’s stock, valued at approximately $725,351.52. This trade represents a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Myomo Price Performance

MYO opened at $5.19 on Friday. The firm has a market cap of $157.00 million, a P/E ratio of -22.57 and a beta of 1.68. Myomo, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $7.17.

Hedge Funds Weigh In On Myomo

Several institutional investors have recently bought and sold shares of the stock. Soleus Capital Management L.P. purchased a new position in shares of Myomo in the 4th quarter worth $5,796,000. AIGH Capital Management LLC grew its stake in shares of Myomo by 21.7% in the 4th quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock worth $21,777,000 after buying an additional 602,719 shares in the last quarter. Portolan Capital Management LLC purchased a new position in shares of Myomo in the 4th quarter worth $2,446,000. Manatuck Hill Partners LLC purchased a new position in shares of Myomo in the 4th quarter worth $1,582,000. Finally, Aristides Capital LLC purchased a new position in shares of Myomo in the 4th quarter worth $1,288,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MYO. Craig Hallum increased their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Alliance Global Partners reissued a “buy” rating on shares of Myomo in a research note on Tuesday. Finally, HC Wainwright increased 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Myomo has an average rating of “Buy” and a consensus price target of $9.25.

Myomo Company Profile

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.