EAM Investors LLC Cuts Stock Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

EAM Investors LLC cut its position in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,410 shares of the company’s stock after selling 41,785 shares during the period. EAM Investors LLC’s holdings in Myomo were worth $724,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MYO. Barclays PLC acquired a new position in shares of Myomo during the 3rd quarter worth approximately $36,000. Jane Street Group LLC purchased a new position in Myomo during the third quarter valued at $65,000. Walleye Capital LLC acquired a new stake in shares of Myomo in the fourth quarter valued at about $66,000. XTX Topco Ltd purchased a new stake in shares of Myomo during the third quarter worth about $149,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Myomo during the 4th quarter worth about $181,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Micah Mitchell sold 48,000 shares of Myomo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.16, for a total value of $247,680.00. Following the completion of the sale, the insider now directly owns 140,572 shares of the company’s stock, valued at approximately $725,351.52. The trade was a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $165,000.00. Following the sale, the insider now directly owns 97,973 shares in the company, valued at approximately $538,851.50. The trade was a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.54% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Myomo Price Performance

Shares of NYSEAMERICAN:MYO opened at $4.37 on Friday. Myomo, Inc. has a 52-week low of $2.73 and a 52-week high of $7.17. The firm has a market capitalization of $132.19 million, a price-to-earnings ratio of -19.00 and a beta of 1.68.

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.