Thomas Kirk Purchases 43,401 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk bought 43,401 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $0.91 per share, for a total transaction of $39,494.91. Following the completion of the acquisition, the director directly owned 628,863 shares in the company, valued at approximately $572,265.33. This trade represents a 7.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Myomo Trading Up 4.7%

Shares of MYO stock opened at $0.88 on Wednesday. The stock has a market cap of $33.93 million, a price-to-earnings ratio of -2.44 and a beta of 1.39. The stock has a 50-day moving average of $0.77 and a 200-day moving average of $0.84. The company has a current ratio of 2.73, a quick ratio of 2.36 and a debt-to-equity ratio of 1.21. Myomo, Inc. has a 1-year low of $0.61 and a 1-year high of $3.45.

Analysts Set New Price Targets

Separately, Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a research note 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 a consensus price target of $7.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Myomo by 93.6% during the third quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock worth $27,000 after purchasing an additional 14,705 shares during the period. Wells Fargo & Company MN lifted its stake in Myomo by 103.1% in the fourth quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock valued at $35,000 after buying an additional 19,646 shares during the period. Invesco Ltd. acquired a new position in Myomo in the second quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Myomo during the 2nd quarter worth approximately $38,000. Finally, Jane Street Group LLC bought a new position in shares of Myomo during the 4th quarter worth approximately $64,000. 44.99% of the stock is owned by institutional investors and hedge funds.

About Myomo

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.