683 Capital Management LLC Makes New $713,000 Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

683 Capital Management LLC purchased a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 110,760 shares of the company’s stock, valued at approximately $713,000.

Other hedge funds also recently modified their holdings of the company. Barclays PLC acquired a new position in Myomo during the 3rd quarter valued at $36,000. Jane Street Group LLC bought a new position in shares of Myomo during the 3rd quarter worth about $65,000. Walleye Capital LLC acquired a new position in shares of Myomo during the fourth quarter valued at about $66,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Myomo in the fourth quarter valued at about $95,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in Myomo during the fourth quarter worth about $181,000. 44.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MYO has been the topic of a number of recent research reports. Craig Hallum boosted their price target on shares of Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Ascendiant Capital Markets increased their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. HC Wainwright lifted their price objective on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Myomo has a consensus rating of “Buy” and an average price target of $9.75.

Insider Buying and Selling

In other Myomo news, insider Harry Kovelman sold 30,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total value of $165,000.00. Following the completion of the transaction, the insider now directly owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. The trade was a 23.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas F. Kirk purchased 7,400 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now owns 255,933 shares of the company’s stock, valued at $1,279,665. This trade represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.54% of the stock is owned by insiders.

Myomo Trading Up 0.9 %

Shares of Myomo stock opened at $4.74 on Friday. The business’s fifty day moving average is $4.85. The firm has a market capitalization of $143.39 million, a PE ratio of -20.61 and a beta of 1.68. Myomo, Inc. has a 12 month low of $2.76 and a 12 month high of $7.17.

Myomo 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.