Aristides Capital LLC Makes New Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

Aristides Capital LLC bought a new stake in Myomo, Inc. (NYSEAMERICAN:MYO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $1,288,000. Aristides Capital LLC owned about 0.66% of Myomo at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. AIGH Capital Management LLC raised its holdings in Myomo by 21.7% during the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock worth $21,777,000 after purchasing an additional 602,719 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Myomo during the 4th quarter worth approximately $1,288,000. JPMorgan Chase & Co. purchased a new position in shares of Myomo during the 4th quarter worth approximately $581,000. Perkins Capital Management Inc. acquired a new stake in shares of Myomo in the 4th quarter valued at approximately $483,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of Myomo in the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Analyst Ratings Changes

MYO has been the subject of a number of research reports. Alliance Global Partners reiterated a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Craig Hallum boosted their target price on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright raised their price target on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Finally, Ascendiant Capital Markets lifted their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.75.

Myomo Stock Down 7.2 %

Myomo stock opened at $4.35 on Friday. Myomo, Inc. has a 52 week low of $2.51 and a 52 week high of $7.17. The firm has a market capitalization of $131.59 million, a P/E ratio of -18.91 and a beta of 1.68.

Insiders Place Their Bets

In other news, insider Micah Mitchell sold 48,000 shares of Myomo stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.16, for a total value of $247,680.00. Following the transaction, the insider now directly owns 140,572 shares of the company’s stock, valued at $725,351.52. The trade was a 25.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Harry Kovelman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total transaction of $165,000.00. Following the sale, the insider now directly owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This trade represents a 23.44 % decrease in their position. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by insiders.

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.