Insider Buying: Myomo, Inc. (NYSEAMERICAN:MYO) Director Acquires $37,000.00 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas F. Kirk bought 7,400 shares of Myomo stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $37,000.00. Following the purchase, the director now owns 255,933 shares of the company’s stock, valued at approximately $1,279,665. This trade represents a 2.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Myomo Stock Performance

Shares of NYSEAMERICAN:MYO opened at $5.19 on Monday. Myomo, Inc. has a one year low of $2.51 and a one year high of $7.17. The company has a market cap of $157.00 million, a PE ratio of -22.57 and a beta of 1.68.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MYO. Northern Trust Corp raised its holdings in shares of Myomo by 17.6% in the 4th quarter. Northern Trust Corp now owns 49,587 shares of the company’s stock valued at $319,000 after purchasing an additional 7,413 shares in the last quarter. Barclays PLC purchased a new position in Myomo during the third quarter valued at approximately $36,000. BNP Paribas Financial Markets bought a new position in Myomo in the fourth quarter worth approximately $64,000. Walleye Capital LLC bought a new position in Myomo in the fourth quarter worth approximately $66,000. Finally, Squarepoint Ops LLC bought a new stake in Myomo during the 4th quarter valued at $74,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MYO has been the subject of several recent analyst reports. Craig Hallum boosted their target price on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright boosted their price objective on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price 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.