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

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 30,000 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Myomo Price Performance

Myomo stock traded down $0.36 during midday trading on Thursday, reaching $5.07. 732,125 shares of the stock traded hands, compared to its average volume of 332,894. Myomo, Inc. has a 12-month low of $2.51 and a 12-month high of $7.17. The stock has a market capitalization of $153.37 million, a price-to-earnings ratio of -22.04 and a beta of 1.68.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HC Wainwright raised their target price on Myomo from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum raised their target price on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a research note on Tuesday. Five equities research 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 $9.25.

Hedge Funds Weigh In On Myomo

Several hedge funds and other institutional investors have recently made changes to their positions in MYO. Barclays PLC purchased a new position in shares of Myomo in the 3rd quarter valued at about $36,000. BNP Paribas Financial Markets acquired a new position in Myomo during the fourth quarter worth approximately $64,000. Jane Street Group LLC acquired a new position in Myomo during the third quarter worth approximately $65,000. Walleye Capital LLC acquired a new position in Myomo during the fourth quarter worth approximately $66,000. Finally, Squarepoint Ops LLC acquired a new position in Myomo during the fourth quarter worth approximately $74,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

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.