Ascendiant Capital Markets Forecasts Strong Price Appreciation for Myomo (NYSEAMERICAN:MYO) Stock

Myomo (NYSEAMERICAN:MYOGet Free Report) had its price objective boosted by equities research analysts at Ascendiant Capital Markets from $9.00 to $11.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price indicates a potential upside of 111.95% from the company’s previous close.

Several other brokerages also recently commented on MYO. Craig Hallum lifted their target price on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. HC Wainwright upped their target price on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Myomo has a consensus rating of “Buy” and an average price target of $9.75.

Get Our Latest Stock Analysis on MYO

Myomo Stock Up 2.4 %

MYO stock opened at $5.19 on Monday. The firm has a market cap of $157.00 million, a PE ratio of -22.57 and a beta of 1.68. Myomo has a 52-week low of $2.51 and a 52-week high of $7.17.

Insider Activity at Myomo

In other news, insider Micah Mitchell sold 48,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were 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 $725,351.52. The trade was a 25.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Harry Kovelman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total value of $165,000.00. Following the completion of the sale, the insider now directly owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MYO. AIGH Capital Management LLC boosted its position in Myomo by 21.7% in the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock worth $21,777,000 after purchasing an additional 602,719 shares during the last quarter. Soleus Capital Management L.P. purchased a new position in shares of Myomo in the fourth quarter valued at $5,796,000. Portolan Capital Management LLC bought a new stake in shares of Myomo during the fourth quarter valued at about $2,446,000. Stonepine Capital Management LLC increased its holdings in Myomo by 174.4% during the 4th quarter. Stonepine Capital Management LLC now owns 274,426 shares of the company’s stock worth $1,767,000 after acquiring an additional 174,426 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Myomo in the fourth quarter worth $1,582,000. 44.99% of the stock is owned by institutional investors.

Myomo Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Myomo (NYSEAMERICAN:MYO)

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