Stonepine Capital Management LLC Takes Position in Myomo, Inc. (NYSEAMERICAN:MYO)

Stonepine Capital Management LLC bought a new stake in Myomo, Inc. (NYSEAMERICAN:MYO) in the 3rd quarter, Holdings Channel reports. The fund bought 100,000 shares of the company’s stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in shares of Myomo in the third quarter valued at $90,000. Bailard Inc. purchased a new position in shares of Myomo in the second quarter valued at $109,000. Accel Wealth Management boosted its stake in shares of Myomo by 6.0% in the second quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after purchasing an additional 2,500 shares during the period. AlphaCentric Advisors LLC bought a new position in Myomo during the 3rd quarter valued at $200,000. Finally, GSA Capital Partners LLP boosted its stake in Myomo by 60.8% during the 3rd quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock valued at $414,000 after acquiring an additional 39,085 shares during the last quarter. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Myomo Stock Performance

Shares of Myomo stock traded up $0.01 during trading hours on Wednesday, reaching $5.28. The company’s stock had a trading volume of 63,278 shares, compared to its average volume of 322,670. Myomo, Inc. has a one year low of $2.51 and a one year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. The company had revenue of $9.21 million for the quarter, compared to the consensus estimate of $7.95 million. On average, equities research analysts forecast that Myomo, Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Craig Hallum assumed coverage on shares of Myomo in a research note on Wednesday, July 31st. They set a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Myomo in a research note on Wednesday, November 13th. Finally, Ascendiant Capital Markets increased their price objective on shares of Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

Myomo Profile

Myomo, Inc, a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States, China, Germany, and internationally. The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis product used for supporting a patient’s weak or paralyzed arm to enable and improve functional activities of daily living.