Soleus Capital Management L.P. Makes New Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

Soleus Capital Management L.P. acquired a new stake in Myomo, Inc. (NYSEAMERICAN:MYO) in the 4th quarter, HoldingsChannel reports. The fund acquired 900,000 shares of the company’s stock, valued at approximately $5,796,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC acquired a new position in shares of Myomo in the 3rd quarter valued at $36,000. Calamos Advisors LLC purchased a new position in Myomo in the fourth quarter valued at $189,000. Palumbo Wealth Management LLC purchased a new position in Myomo in the fourth quarter valued at $242,000. Thompson Davis & CO. Inc. acquired a new position in shares of Myomo in the fourth quarter worth about $181,000. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of Myomo during the 4th quarter worth about $1,288,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Myomo Stock Performance

MYO opened at $3.57 on Monday. The firm has a market cap of $107.99 million, a P/E ratio of -15.52 and a beta of 1.68. Myomo, Inc. has a twelve month low of $2.76 and a twelve month high of $7.17. The stock’s 50-day moving average is $4.59.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MYO shares. Craig Hallum cut their price target on Myomo from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Ascendiant Capital Markets raised their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, March 17th. Alliance Global Partners restated a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Finally, HC Wainwright increased their target price on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.50.

Insiders Place Their Bets

In other Myomo news, Director Thomas F. Kirk purchased 50,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $3.35 per share, with a total value of $167,500.00. Following the completion of the purchase, the director now owns 305,933 shares in the company, valued at approximately $1,024,875.55. This represents a 19.54% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul R. Gudonis purchased 30,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of $3.22 per share, for a total transaction of $96,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,051,671 shares of the company’s stock, valued at $3,386,380.62. The trade was a 2.94% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 126,167 shares of company stock worth $427,093. Corporate insiders own 4.54% of the company’s stock.

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.