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 business’s stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Myomo Price Performance

Shares of Myomo stock traded down $0.36 during trading on Thursday, hitting $5.07. 732,125 shares of the stock were exchanged, compared to its average volume of 332,894. The firm has a market capitalization of $153.37 million, a PE ratio of -22.04 and a beta of 1.68. Myomo, Inc. has a 1-year low of $2.51 and a 1-year high of $7.17.

Institutional Trading of Myomo

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

Analyst Ratings Changes

Several analysts recently issued reports on MYO shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday. Craig Hallum upped their price objective on shares of Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, HC Wainwright increased their price target on shares of Myomo from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average 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.