Insider Selling: Myomo (NYSEAMERICAN:MYO) Insider Sells $29,842.50 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 17,250 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1.73, for a total transaction of $29,842.50. Following the transaction, the insider directly owned 105,983 shares in the company, valued at approximately $183,350.59. The trade was a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The stock was sold at an average price of $1.00, for a total transaction of $20,464.00.
• On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The shares were sold at an average price of $1.02, for a total value of $11,766.72.

Myomo Stock Down 0.6%

Shares of NYSEAMERICAN MYO traded down $0.01 during midday trading on Friday, reaching $1.73. 1,087,832 shares of the company’s stock were exchanged, compared to its average volume of 607,950. Myomo, Inc. has a 52-week low of $0.60 and a 52-week high of $1.89. The stock has a market capitalization of $68.53 million, a PE ratio of -5.09 and a beta of 1.50. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.01 and a current ratio of 2.31. The business’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $0.97.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%.The firm had revenue of $11.70 million during the quarter, compared to the consensus estimate of $10.35 million. Analysts forecast that Myomo, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets increased their price objective on shares of Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.00.

Hedge Funds Weigh In On Myomo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. raised its position in shares of Myomo by 1.3% during the 4th quarter. Rosalind Advisors Inc. now owns 3,839,772 shares of the company’s stock worth $3,494,000 after purchasing an additional 48,984 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Myomo in the 4th quarter worth approximately $641,000. Geode Capital Management LLC boosted its position in Myomo by 160.8% during the 2nd quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock valued at $1,446,000 after purchasing an additional 412,631 shares during the period. AQR Capital Management LLC boosted its position in Myomo by 47.8% during the 4th quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock valued at $395,000 after purchasing an additional 140,427 shares during the period. Finally, State Street Corp grew its stake in Myomo by 5.1% during the 4th quarter. State Street Corp now owns 399,853 shares of the company’s stock worth $364,000 after buying an additional 19,563 shares during the last quarter. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Myomo Company Profile

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.