Aristides Capital LLC Acquires Shares of 200,000 Myomo, Inc. (NYSEAMERICAN:MYO)

Aristides Capital LLC bought a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $1,288,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MYO. AIGH Capital Management LLC increased its stake in shares of 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 buying an additional 602,719 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Myomo during the 4th quarter worth $1,288,000. JPMorgan Chase & Co. bought a new stake in shares of Myomo in the 4th quarter worth about $581,000. Perkins Capital Management Inc. acquired a new stake in shares of Myomo in the 4th quarter valued at about $483,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of Myomo during the fourth quarter worth about $242,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Harry Kovelman sold 30,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Micah Mitchell sold 48,000 shares of Myomo stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.16, for a total transaction of $247,680.00. Following the sale, the insider now owns 140,572 shares in the company, valued at approximately $725,351.52. This represents a 25.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MYO shares. Craig Hallum upped their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Ascendiant Capital Markets upped their price target on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Finally, HC Wainwright boosted their target price on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $9.75.

Myomo Trading Down 7.2 %

Shares of NYSEAMERICAN MYO opened at $4.35 on Friday. The firm has a market capitalization of $131.59 million, a price-to-earnings ratio of -18.91 and a beta of 1.68. Myomo, Inc. has a 1-year low of $2.51 and a 1-year high of $7.17.

About Myomo

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.