Myomo (NYSEAMERICAN:MYO) Price Target Raised to $11.00 at Craig Hallum

Myomo (NYSEAMERICAN:MYO) had its price target boosted by Craig Hallum from $9.00 to $11.00 in a research report report published on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on MYO. Ascendiant Capital Markets boosted their price objective on Myomo from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Myomo in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.25.

Myomo Stock Down 6.6 %

NYSEAMERICAN:MYO opened at $5.07 on Tuesday. The company has a market capitalization of $153.37 million, a P/E ratio of -22.04 and a beta of 1.68. Myomo has a 1-year low of $2.51 and a 1-year high of $7.17.

Insider Activity at Myomo

In related news, insider Harry Kovelman sold 30,000 shares of the company’s 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 completion of the transaction, the insider now owns 97,973 shares in the company, valued at $538,851.50. This represents a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Myomo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Soleus Capital Management L.P. purchased a new stake in Myomo in the fourth quarter worth $5,796,000. AIGH Capital Management LLC grew its stake in Myomo by 21.7% in 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 during the period. Portolan Capital Management LLC purchased a new stake in Myomo in the fourth quarter worth $2,446,000. Manatuck Hill Partners LLC purchased a new stake in Myomo in the fourth quarter worth $1,582,000. Finally, Aristides Capital LLC purchased a new stake in Myomo in the fourth quarter worth $1,288,000. 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.