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

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 20,464 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 120,154 shares in the company, valued at approximately $120,154. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 Price Performance

NYSEAMERICAN MYO opened at $1.09 on Friday. 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 stock’s fifty day moving average price is $0.81 and its 200 day moving average price is $0.85. Myomo, Inc. has a 1 year low of $0.61 and a 1 year high of $3.14. The company has a market cap of $42.12 million, a price-to-earnings ratio of -3.03 and a beta of 1.39.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Myomo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYO. Bank of America Corp DE grew its position in 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 purchasing an additional 14,705 shares during the period. Wells Fargo & Company MN grew its position in Myomo by 103.1% during the 4th quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock worth $35,000 after purchasing an additional 19,646 shares during the period. Invesco Ltd. acquired a new stake in Myomo during the 2nd quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Myomo during the 2nd quarter worth about $38,000. Finally, Jane Street Group LLC acquired a new stake in Myomo during the 4th quarter worth about $64,000. 44.99% of the stock is 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.