Journey Advisory Group LLC Sells 248,952 Shares of Myomo, Inc. $MYO

Journey Advisory Group LLC lowered its stake in Myomo, Inc. (NYSEAMERICAN:MYO) by 22.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 875,844 shares of the company’s stock after selling 248,952 shares during the quarter. Journey Advisory Group LLC owned 2.43% of Myomo worth $1,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AIGH Capital Management LLC lifted its position in Myomo by 22.3% in the second quarter. AIGH Capital Management LLC now owns 3,555,742 shares of the company’s stock valued at $7,680,000 after purchasing an additional 649,053 shares during the last quarter. Jane Street Group LLC lifted its position in Myomo by 84.2% in the first quarter. Jane Street Group LLC now owns 162,658 shares of the company’s stock valued at $782,000 after purchasing an additional 74,338 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in Myomo by 111.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 95,400 shares of the company’s stock valued at $459,000 after purchasing an additional 50,200 shares during the last quarter. Huntleigh Advisors Inc. lifted its position in Myomo by 17.0% in the first quarter. Huntleigh Advisors Inc. now owns 95,190 shares of the company’s stock valued at $458,000 after purchasing an additional 13,809 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Myomo by 149.5% in the first quarter. Russell Investments Group Ltd. now owns 88,693 shares of the company’s stock valued at $427,000 after purchasing an additional 53,142 shares during the last quarter. Institutional investors own 44.99% of the company’s stock.

Myomo Price Performance

MYO opened at $1.03 on Monday. The stock has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $2.37. The company has a current ratio of 2.39, a quick ratio of 2.03 and a debt-to-equity ratio of 0.08. The company has a market cap of $38.93 million, a price-to-earnings ratio of -4.48 and a beta of 1.48. Myomo, Inc. has a 12-month low of $0.80 and a 12-month high of $7.17.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Craig Hallum set a $8.00 target price on Myomo and gave the company a “buy” rating in a report on Monday, June 23rd. Ascendiant Capital Markets decreased their target price on Myomo from $11.50 to $10.50 and set a “buy” rating for the company in a report on Monday, September 22nd. Alliance Global Partners restated a “buy” rating on shares of Myomo in a report on Thursday, June 26th. Finally, HC Wainwright decreased their target price on Myomo from $9.50 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $7.83.

Insiders Place Their Bets

In other news, Director Thomas F. Kirk acquired 50,000 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was acquired at an average price of $1.15 per share, for a total transaction of $57,500.00. Following the completion of the acquisition, the director owned 474,420 shares in the company, valued at $545,583. This trade represents a 11.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul R. Gudonis acquired 50,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was purchased at an average price of $0.95 per share, with a total value of $47,500.00. Following the acquisition, the chief executive officer owned 1,259,013 shares of the company’s stock, valued at $1,196,062.35. This represents a 4.14% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 150,000 shares of company stock valued at $160,000. 4.54% of the stock is owned by corporate insiders.

Myomo 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.