Myomo (NYSEAMERICAN:MYO) Director Purchases $28,760.55 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk acquired 31,605 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $0.91 per share, with a total value of $28,760.55. Following the acquisition, the director owned 585,462 shares in the company, valued at approximately $532,770.42. This trade represents a 5.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Myomo Stock Performance

Shares of MYO stock traded down $0.07 on Monday, hitting $0.84. The company had a trading volume of 430,602 shares, compared to its average volume of 350,290. The firm has a market cap of $32.42 million, a P/E ratio of -2.33 and a beta of 1.39. The company has a 50-day moving average price of $0.76 and a 200-day moving average price of $0.84. The company has a quick ratio of 2.36, a current ratio of 2.73 and a debt-to-equity ratio of 1.21. Myomo, Inc. has a twelve month low of $0.61 and a twelve month high of $3.45.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $7.67.

Institutional Investors Weigh In On Myomo

Large investors have recently bought and sold shares of the company. Engineers Gate Manager LP increased its stake in Myomo by 62.8% during the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock worth $65,000 after buying an additional 11,614 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Myomo in the second quarter valued at approximately $38,000. Jump Financial LLC grew its position in shares of Myomo by 42.2% in the second quarter. Jump Financial LLC now owns 87,000 shares of the company’s stock valued at $188,000 after purchasing an additional 25,802 shares in the last quarter. Marshall Wace LLP grew its position in shares of Myomo by 26.0% in the second quarter. Marshall Wace LLP now owns 304,400 shares of the company’s stock valued at $658,000 after purchasing an additional 62,743 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Myomo in the second quarter valued at approximately $37,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Myomo Company Profile

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company’s flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users’ own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.