Perkins Capital Management Inc. Purchases New Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

Perkins Capital Management Inc. acquired a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 75,000 shares of the company’s stock, valued at approximately $483,000.

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

Insiders Place Their Bets

In other news, insider Micah Mitchell sold 48,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.16, for a total transaction of $247,680.00. Following the completion of the transaction, the insider now directly owns 140,572 shares of the company’s stock, valued at approximately $725,351.52. The trade was a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Harry Kovelman sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total transaction of $165,000.00. Following the completion of the sale, the insider now directly owns 97,973 shares in the company, 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. Insiders own 4.54% of the company’s stock.

Myomo Stock Down 0.7 %

Shares of NYSEAMERICAN MYO opened at $5.38 on Monday. Myomo, Inc. has a twelve month low of $2.51 and a twelve month high of $7.17. The firm has a market capitalization of $162.75 million, a PE ratio of -23.39 and a beta of 1.68.

Analyst Upgrades and Downgrades

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

Myomo Company 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.