Insider Buying: Myomo (NYSEAMERICAN:MYO) Director Buys $146,913.80 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Joseph Jr. Manko purchased 170,830 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $0.86 per share, with a total value of $146,913.80. Following the purchase, the director directly owned 2,279,408 shares of the company’s stock, valued at approximately $1,960,290.88. The trade was a 8.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Myomo Price Performance

Myomo stock opened at $0.91 on Thursday. Myomo, Inc. has a 12 month low of $0.61 and a 12 month high of $3.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.73 and a quick ratio of 2.36. The business has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $0.84. The stock has a market capitalization of $35.35 million, a PE ratio of -2.54 and a beta of 1.39.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Myomo in the first quarter valued at $75,000. Invesco Ltd. purchased a new position in shares of Myomo in the second quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Myomo in the second quarter valued at $38,000. Acadian Asset Management LLC purchased a new position in shares of Myomo in the first quarter valued at $114,000. Finally, Engineers Gate Manager LP increased its position in shares of Myomo by 62.8% in the second quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after buying an additional 11,614 shares in the last quarter. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.