Myomo (NYSEAMERICAN:MYO) Insider Harry Kovelman Sells 11,536 Shares

Myomo, Inc. (NYSEAMERICAN:MYO) insider Harry Kovelman sold 11,536 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.02, for a total transaction of $11,766.72. Following the sale, the insider owned 108,618 shares of the company’s stock, valued at $110,790.36. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Harry Kovelman also recently made the following trade(s):

• On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total transaction of $20,464.00.

Myomo Stock Up 9.0%

Shares of NYSEAMERICAN:MYO opened at $1.09 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.36 and a current ratio of 2.73. The company has a market cap of $42.12 million, a PE ratio of -3.03 and a beta of 1.39. Myomo, Inc. has a 52 week low of $0.61 and a 52 week high of $3.14. The firm has a 50 day simple moving average of $0.81 and a 200 day simple moving average of $0.85.

Institutional Investors Weigh In On Myomo

Several hedge funds have recently made changes to their positions in MYO. Engineers Gate Manager LP lifted its position in Myomo by 62.8% in the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock worth $65,000 after buying an additional 11,614 shares in the last quarter. Bank of America Corp DE lifted its position in Myomo by 93.6% in the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock worth $27,000 after buying an additional 14,705 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Myomo in the 1st quarter worth approximately $75,000. Invesco Ltd. purchased a new stake in Myomo in the 2nd quarter worth approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Myomo in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Analysts Set New Price Targets

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

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.