Accel Wealth Management Takes Position in Myomo, Inc. (NYSEAMERICAN:MYO)

Accel Wealth Management acquired a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,382 shares of the company’s stock, valued at approximately $135,000. Accel Wealth Management owned 0.15% of Myomo at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AIGH Capital Management LLC increased its position in shares of Myomo by 21.9% during the fourth quarter. AIGH Capital Management LLC now owns 2,668,290 shares of the company’s stock worth $13,368,000 after acquiring an additional 479,407 shares in the last quarter. Worth Venture Partners LLC grew its holdings in shares of Myomo by 24.9% in the third quarter. Worth Venture Partners LLC now owns 1,397,861 shares of the company’s stock valued at $1,552,000 after acquiring an additional 278,544 shares in the last quarter. PFG Advisors purchased a new stake in shares of Myomo during the fourth quarter valued at approximately $134,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Myomo during the fourth quarter valued at approximately $125,000. Finally, Accurate Wealth Management LLC lifted its holdings in Myomo by 21.8% during the fourth quarter. Accurate Wealth Management LLC now owns 21,565 shares of the company’s stock worth $108,000 after acquiring an additional 3,864 shares during the period. Institutional investors and hedge funds own 44.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MYO. HC Wainwright restated a “buy” rating and set a $6.50 price target on shares of Myomo in a research note on Thursday, May 9th. Lake Street Capital began coverage on Myomo in a report on Monday, May 20th. They issued a “buy” rating and a $7.00 price objective for the company.

Insider Buying and Selling

In other news, Director Thomas F. Kirk bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $3.50 per share, with a total value of $175,000.00. Following the completion of the purchase, the director now directly owns 236,499 shares in the company, valued at $827,746.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.54% of the stock is owned by insiders.

Myomo Trading Up 0.4 %

Shares of MYO opened at $2.82 on Friday. Myomo, Inc. has a 1 year low of $0.50 and a 1 year high of $5.58.

Myomo (NYSEAMERICAN:MYO) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $3.75 million during the quarter. Myomo had a negative return on equity of 94.02% and a negative net margin of 47.77%. Sell-side analysts anticipate that Myomo, Inc. will post -0.18 EPS for the current fiscal year.

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.