Myomo, Inc. (NYSEAMERICAN:MYO) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its stake in Myomo, Inc. (NYSEAMERICAN:MYO) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 793,697 shares of the company’s stock after selling 105,438 shares during the quarter. Myomo comprises 0.9% of Essex Investment Management Co. LLC’s portfolio, making the stock its 28th largest position. Essex Investment Management Co. LLC owned about 2.62% of Myomo worth $5,111,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Barclays PLC purchased a new position in Myomo in the third quarter valued at about $36,000. Jane Street Group LLC purchased a new position in Myomo in the third quarter valued at about $65,000. Thompson Davis & CO. Inc. purchased a new position in Myomo in the fourth quarter valued at about $181,000. Calamos Advisors LLC purchased a new position in Myomo in the fourth quarter valued at about $189,000. Finally, XTX Topco Ltd bought a new position in Myomo during the 3rd quarter worth approximately $149,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MYO. Ascendiant Capital Markets increased their target price on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Craig Hallum increased their target price on Myomo from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.50 target price on shares of Myomo in a report on Wednesday, November 13th.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $4.60 on Friday. The company has a market capitalization of $139.15 million, a P/E ratio of -20.00 and a beta of 1.68. Myomo, Inc. has a 12-month low of $2.51 and a 12-month high of $7.17.

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.