HC Wainwright Reaffirms Buy Rating for Myomo (NYSEAMERICAN:MYO)

Myomo (NYSEAMERICAN:MYO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $6.50 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 64.56% from the company’s previous close.

Myomo Price Performance

Shares of NYSEAMERICAN:MYO opened at $3.95 on Thursday. The stock has a market cap of $113.76 million, a price-to-earnings ratio of -14.11 and a beta of 1.51. Myomo has a 1-year low of $0.37 and a 1-year high of $5.58.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Myomo had a negative return on equity of 84.72% and a negative net margin of 42.34%. The business had revenue of $4.76 million for the quarter, compared to the consensus estimate of $4.70 million. As a group, sell-side analysts expect that Myomo will post -0.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Thomas F. Kirk bought 50,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $3.50 per share, for a total transaction of $175,000.00. Following the transaction, the director now owns 186,499 shares of the company’s stock, valued at $652,746.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Institutional Trading of Myomo

A number of large investors have recently made changes to their positions in the company. AIGH Capital Management LLC raised its holdings in shares of Myomo by 21.9% in the fourth quarter. AIGH Capital Management LLC now owns 2,668,290 shares of the company’s stock valued at $13,368,000 after purchasing an additional 479,407 shares during the last quarter. Rosalind Advisors Inc. grew its stake in Myomo by 27.5% in the first quarter. Rosalind Advisors Inc. now owns 2,447,740 shares of the company’s stock valued at $8,004,000 after purchasing an additional 527,830 shares in the last quarter. Worth Venture Partners LLC grew its stake in Myomo by 24.9% in the third quarter. Worth Venture Partners LLC now owns 1,397,861 shares of the company’s stock valued at $1,552,000 after purchasing an additional 278,544 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Myomo by 537.9% during the 1st quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company’s stock worth $1,971,000 after purchasing an additional 508,249 shares during the last quarter. Finally, PFG Advisors raised its stake in shares of Myomo by 74.8% during the 1st quarter. PFG Advisors now owns 46,760 shares of the company’s stock worth $153,000 after purchasing an additional 20,016 shares in the last quarter. Institutional investors own 44.99% of the company’s stock.

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.