Myomo (NYSEAMERICAN:MYO) Price Target Raised to $9.50

Myomo (NYSEAMERICAN:MYO) had its price target increased by HC Wainwright from $7.50 to $9.50 in a report released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Myomo’s FY2026 earnings at $0.00 EPS, FY2028 earnings at $0.42 EPS and FY2029 earnings at $0.60 EPS.

MYO has been the subject of a number of other reports. Ascendiant Capital Markets boosted their price objective on shares of Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Craig Hallum boosted their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.25.

Myomo Price Performance

Shares of Myomo stock opened at $5.19 on Wednesday. Myomo has a 1 year low of $2.51 and a 1 year high of $7.17. The company has a market cap of $157.00 million, a price-to-earnings ratio of -22.57 and a beta of 1.68.

Insider Activity at Myomo

In other news, Director Thomas F. Kirk purchased 7,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director now directly owns 255,933 shares of the company’s stock, valued at $1,279,665. This represents a 2.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Harry Kovelman sold 30,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were 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 $538,851.50. This represents a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Myomo in the 4th quarter worth about $101,000. Soleus Capital Management L.P. bought a new position in Myomo during the 4th quarter valued at about $5,796,000. Squarepoint Ops LLC bought a new position in Myomo during the 4th quarter valued at about $74,000. Stonepine Capital Management LLC lifted its stake in Myomo by 174.4% during the 4th quarter. Stonepine Capital Management LLC now owns 274,426 shares of the company’s stock valued at $1,767,000 after acquiring an additional 174,426 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Myomo in the 4th quarter worth approximately $128,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

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.