Myomo, Inc. (NYSEAMERICAN:MYO) Insider Harry Kovelman Sells 30,000 Shares

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total value of $165,000.00. Following the transaction, the insider now owns 97,973 shares in the company, valued at $538,851.50. This trade represents a 23.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Myomo Price Performance

Shares of MYO opened at $5.19 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 $157.00 million, a price-to-earnings ratio of -22.57 and a beta of 1.68.

Analyst Ratings Changes

Several research firms recently commented on MYO. HC Wainwright increased their price objective on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday. Craig Hallum increased their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Myomo in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Myomo has an average rating of “Buy” and an average target price of $9.25.

Institutional Trading of Myomo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC acquired a new stake in shares of Myomo in the 3rd quarter worth $36,000. Jane Street Group LLC acquired a new stake in shares of Myomo in the 3rd quarter worth $65,000. GSA Capital Partners LLP increased its stake in shares of Myomo by 60.8% in the 3rd quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock worth $414,000 after acquiring an additional 39,085 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Myomo during the 3rd quarter worth about $401,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Myomo during the 4th quarter worth about $181,000. 44.99% of the stock is owned by institutional investors and hedge funds.

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.