Insider Buying: Myomo (NYSEAMERICAN:MYO) Director Buys 31,605 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk bought 31,605 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $0.91 per share, for a total transaction of $28,760.55. Following the completion of the purchase, the director owned 585,462 shares in the company, valued at $532,770.42. The trade was a 5.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Myomo Stock Performance

MYO traded down $0.07 on Monday, reaching $0.84. 430,602 shares of the stock were exchanged, compared to its average volume of 350,290. The company’s 50-day moving average price is $0.76 and its 200 day moving average price is $0.84. Myomo, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.73 and a quick ratio of 2.36. The firm has a market capitalization of $32.42 million, a PE ratio of -2.33 and a beta of 1.39.

Wall Street Analyst Weigh In

Separately, Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a research report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.67.

Hedge Funds Weigh In On Myomo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its holdings in shares of Myomo by 62.8% in the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after buying an additional 11,614 shares during the period. Bank of America Corp DE lifted its holdings in shares of Myomo by 93.6% in the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock valued at $27,000 after buying an additional 14,705 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Myomo in the 1st quarter valued at about $75,000. Invesco Ltd. acquired a new position in shares of Myomo in the 2nd quarter valued at about $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Myomo in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Myomo Company Profile

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company’s flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users’ own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.