Myomo (NYSEAMERICAN:MYO) Director Thomas Kirk Acquires 40,002 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk purchased 40,002 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $1.27 per share, for a total transaction of $50,802.54. Following the acquisition, the director owned 693,865 shares in the company, valued at approximately $881,208.55. The trade was a 6.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Myomo Trading Up 2.3%

Shares of NYSEAMERICAN MYO opened at $1.31 on Wednesday. The company has a market cap of $50.62 million, a price-to-earnings ratio of -3.64 and a beta of 1.47. Myomo, Inc. has a 12-month low of $0.61 and a 12-month high of $2.99. The company has a current ratio of 2.73, a quick ratio of 2.36 and a debt-to-equity ratio of 1.21. The stock’s 50 day simple moving average is $0.88 and its 200 day simple moving average is $0.87.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Ascendiant Capital Markets raised their price target on Myomo from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Monday. Craig Hallum reissued 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.com, Myomo currently has a consensus rating of “Buy” and a consensus price target of $7.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Myomo by 93.6% during the 3rd 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 raised its stake in shares of Myomo by 103.1% during the 4th 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 last quarter. Invesco Ltd. purchased a new position in shares of Myomo during the 2nd quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Myomo during the 2nd quarter valued at about $38,000. Finally, Jane Street Group LLC purchased a new position in shares of Myomo during the 4th quarter valued at about $64,000. 44.99% of the stock is currently 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.