Myomo (NYSEAMERICAN:MYO) Price Target Raised to $11.00

Myomo (NYSEAMERICAN:MYO) had its price target lifted by Ascendiant Capital Markets from $9.00 to $11.00 in a report published on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

MYO has been the topic of several other reports. Alliance Global Partners reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. HC Wainwright raised their price objective on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, Craig Hallum lifted their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.75.

Myomo Trading Up 3.2 %

Shares of MYO opened at $5.48 on Monday. Myomo has a 12 month low of $2.51 and a 12 month high of $7.17. The company has a market capitalization of $165.77 million, a price-to-earnings ratio of -23.83 and a beta of 1.68.

Insider Buying and Selling

In other news, insider Harry Kovelman sold 30,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total transaction of $165,000.00. Following the completion of the transaction, the insider now directly owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This represents a 23.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Kirk acquired 7,400 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $5.00 per share, with a total value of $37,000.00. Following the completion of the transaction, the director now owns 255,933 shares in the company, valued at approximately $1,279,665. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.54% of the stock is currently owned by insiders.

Institutional Trading of Myomo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of Myomo during the 3rd quarter worth approximately $36,000. BNP Paribas Financial Markets purchased a new position in Myomo in the 4th quarter valued at approximately $64,000. Jane Street Group LLC purchased a new position in Myomo in the 3rd quarter valued at approximately $65,000. Walleye Capital LLC acquired a new stake in Myomo during the 4th quarter valued at $66,000. Finally, Squarepoint Ops LLC acquired a new stake in Myomo during the 4th quarter valued at $74,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

About Myomo

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.