Harry Kovelman Sells 30,000 Shares of Myomo, Inc. (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 30,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total transaction of $165,000.00. Following the sale, the insider now owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This represents a 23.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Myomo Trading Up 2.4 %

Shares of MYO opened at $5.19 on Friday. Myomo, Inc. has a twelve month low of $2.51 and a twelve month high of $7.17. The stock has a market cap of $157.00 million, a price-to-earnings ratio of -22.57 and a beta of 1.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MYO shares. HC Wainwright upped their target price on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a research note on Tuesday. Finally, Craig Hallum lifted their target price on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $9.25.

Institutional Investors Weigh In On Myomo

A number of large investors have recently bought and sold shares of the stock. Barclays PLC acquired a new position in Myomo in the third quarter valued at $36,000. BNP Paribas Financial Markets acquired a new stake in Myomo in the 4th quarter worth about $64,000. Jane Street Group LLC purchased a new stake in Myomo in the 3rd quarter valued at about $65,000. Walleye Capital LLC acquired a new position in shares of Myomo during the 4th quarter valued at about $66,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Myomo during the 4th quarter valued at about $74,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

About Myomo

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.