Insider Buying: Myomo (NYSEAMERICAN:MYO) Director Buys $50,802.54 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk acquired 40,002 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $1.27 per share, with a total value of $50,802.54. Following the completion of the acquisition, the director owned 693,865 shares in the company, valued at $881,208.55. This represents a 6.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Myomo Price Performance

Shares of MYO stock opened at $1.37 on Friday. The firm has a market cap of $52.94 million, a P/E ratio of -3.81 and a beta of 1.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.73 and a quick ratio of 2.36. Myomo, Inc. has a 1-year low of $0.61 and a 1-year high of $2.89. The firm has a fifty day moving average of $0.92 and a two-hundred day moving average of $0.88.

Institutional Trading of Myomo

A number of hedge funds and other institutional investors have recently made changes to their positions in MYO. Bank of America Corp DE raised 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 buying an additional 14,705 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of 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 buying an additional 19,646 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Myomo during the 2nd quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Myomo during the 2nd quarter worth about $38,000. Finally, Jane Street Group LLC bought a new stake in shares of Myomo during the 4th quarter worth about $64,000. 44.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MYO shares. Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Ascendiant Capital Markets lifted their price target on shares of Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Myomo 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.