Harry Kovelman Sells 20,464 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 20,464 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1.00, for a total value of $20,464.00. Following the completion of the sale, the insider directly owned 120,154 shares in the company, valued at approximately $120,154. The trade was a 14.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Harry Kovelman also recently made the following trade(s):

• On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The stock was sold at an average price of $1.02, for a total transaction of $11,766.72.

Myomo Stock Performance

Shares of MYO stock opened at $1.09 on Friday. 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 firm has a fifty day moving average price of $0.81 and a 200 day moving average price of $0.85. The company has a market cap of $42.12 million, a P/E ratio of -3.03 and a beta of 1.39. Myomo, Inc. has a 12 month low of $0.61 and a 12 month high of $3.14.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MYO. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Myomo in the first quarter valued at approximately $75,000. Invesco Ltd. purchased a new position in shares of Myomo in the 2nd quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Myomo in the 2nd quarter valued at $38,000. Acadian Asset Management LLC purchased a new position in shares of Myomo in the 1st quarter valued at $114,000. Finally, Engineers Gate Manager LP raised its stake in shares of Myomo by 62.8% in the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after acquiring an additional 11,614 shares during the period. 44.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum restated a “buy” rating on shares of Myomo in a research note on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $7.67.

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.