Myomo, Inc. (NYSEAMERICAN:MYO) Insider Micah Mitchell Sells 48,000 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Micah Mitchell sold 48,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.16, for a total value of $247,680.00. Following the completion of the sale, the insider now directly owns 140,572 shares in the company, valued at approximately $725,351.52. The trade was a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Myomo Trading Up 2.4 %

NYSEAMERICAN MYO opened at $5.19 on Friday. The firm has a market cap of $157.00 million, a price-to-earnings 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYO. GSA Capital Partners LLP boosted its stake in Myomo by 60.8% during the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock worth $414,000 after buying an additional 39,085 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in Myomo in the third quarter valued at $401,000. Jane Street Group LLC purchased a new stake in Myomo in the third quarter valued at $65,000. XTX Topco Ltd purchased a new stake in Myomo in the third quarter valued at $149,000. Finally, Barclays PLC purchased a new stake in Myomo in the third quarter valued at $36,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.