Thomas Kirk Purchases 72,000 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk acquired 72,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $0.71 per share, with a total value of $51,120.00. Following the purchase, the director owned 553,857 shares of the company’s stock, valued at approximately $393,238.47. This trade represents a 14.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Myomo Stock Up 6.2%

MYO traded up $0.04 during trading hours on Monday, hitting $0.74. 336,128 shares of the company’s stock were exchanged, compared to its average volume of 506,524. The firm has a market cap of $28.49 million, a P/E ratio of -2.00 and a beta of 1.17. Myomo, Inc. has a 12-month low of $0.63 and a 12-month high of $5.62. The company has a current ratio of 3.30, a quick ratio of 2.93 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $0.84 and a 200 day moving average of $0.91.

Wall Street Analysts Forecast Growth

MYO has been the topic of several recent research reports. Craig Hallum restated a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Ascendiant Capital Markets lowered their price objective on Myomo from $10.50 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.67.

Institutional Trading of Myomo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in shares of Myomo by 93.6% during the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock worth $27,000 after acquiring an additional 14,705 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Myomo by 103.1% in the fourth quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock valued at $35,000 after purchasing an additional 19,646 shares in the last quarter. Invesco Ltd. purchased a new position in Myomo in the second quarter valued at approximately $37,000. Intech Investment Management LLC acquired a new stake in Myomo during the second quarter worth approximately $38,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Myomo during the 2nd quarter worth approximately $38,000. 44.99% of the stock is currently owned by institutional investors and hedge funds.

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.