379,819 Shares in Myomo, Inc. (NYSEAMERICAN:MYO) Bought by Portolan Capital Management LLC

Portolan Capital Management LLC bought a new stake in Myomo, Inc. (NYSEAMERICAN:MYO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 379,819 shares of the company’s stock, valued at approximately $2,446,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of Myomo in the 3rd quarter valued at $65,000. XTX Topco Ltd acquired a new position in Myomo in the 3rd quarter worth about $149,000. Barclays PLC bought a new position in Myomo in the third quarter valued at about $36,000. Calamos Advisors LLC acquired a new stake in shares of Myomo during the fourth quarter valued at about $189,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Myomo during the fourth quarter worth about $242,000. Institutional investors own 44.99% of the company’s stock.

Insider Transactions at Myomo

In other Myomo news, insider Micah Mitchell sold 48,000 shares of the business’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas F. Kirk purchased 7,400 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now directly 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 corporate insiders.

Myomo Price Performance

NYSEAMERICAN:MYO opened at $4.45 on Tuesday. Myomo, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $7.17. The company has a market cap of $134.61 million, a price-to-earnings ratio of -19.35 and a beta of 1.68.

Analysts Set New Price Targets

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

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.