Bridgeway Capital Management LLC Trims Stake in Myomo, Inc. (NYSEAMERICAN:MYO)

Bridgeway Capital Management LLC lowered its stake in Myomo, Inc. (NYSEAMERICAN:MYO) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,400 shares of the company’s stock after selling 4,500 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.23% of Myomo worth $453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MYO. AIGH Capital Management LLC boosted its stake in shares of Myomo by 21.7% during the 4th quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company’s stock worth $21,777,000 after purchasing an additional 602,719 shares during the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Myomo during the 4th quarter worth about $2,446,000. Manatuck Hill Partners LLC purchased a new stake in shares of Myomo in the fourth quarter valued at $1,582,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Myomo in the fourth quarter valued at $1,288,000. Finally, Aristides Capital LLC purchased a new stake in shares of Myomo in the fourth quarter valued at $1,288,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Myomo Trading Down 4.8%

Myomo stock opened at $3.20 on Monday. The stock has a 50-day moving average price of $4.78. The stock has a market cap of $96.80 million, a P/E ratio of -13.91 and a beta of 1.68. Myomo, Inc. has a 12 month low of $2.76 and a 12 month high of $7.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MYO shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Ascendiant Capital Markets lifted their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Craig Hallum dropped their price target on shares of Myomo from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday. Finally, HC Wainwright upped their price target on shares of Myomo from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $9.50.

Insider Transactions at Myomo

In related news, Director Thomas F. Kirk purchased 7,400 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director now directly owns 255,933 shares in the company, valued at $1,279,665. The trade was a 2.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harry Kovelman sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total value of $165,000.00. Following the completion of the transaction, the insider now owns 97,973 shares of the company’s stock, valued at approximately $538,851.50. This represents a 23.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.54% of the company’s stock.

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.