R Squared Ltd Invests $29,000 in Myomo, Inc. $MYO

R Squared Ltd purchased a new position in Myomo, Inc. (NYSEAMERICAN:MYO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,195 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds have also made changes to their positions in MYO. AIGH Capital Management LLC lifted its position in shares of Myomo by 22.3% in the second quarter. AIGH Capital Management LLC now owns 3,555,742 shares of the company’s stock worth $7,680,000 after purchasing an additional 649,053 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Myomo by 84.2% in the first quarter. Jane Street Group LLC now owns 162,658 shares of the company’s stock worth $782,000 after purchasing an additional 74,338 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Myomo by 149.5% in the first quarter. Russell Investments Group Ltd. now owns 88,693 shares of the company’s stock worth $427,000 after purchasing an additional 53,142 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of Myomo by 111.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 95,400 shares of the company’s stock worth $459,000 after purchasing an additional 50,200 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Myomo by 380.0% in the second quarter. Stratos Wealth Partners LTD. now owns 60,000 shares of the company’s stock worth $130,000 after purchasing an additional 47,500 shares in the last quarter. 44.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Myomo

In related news, Director Thomas F. Kirk bought 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the purchase, the director directly owned 474,420 shares in the company, valued at $545,583. This trade represents a 11.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul R. Gudonis bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average price of $0.95 per share, with a total value of $47,500.00. Following the completion of the purchase, the chief executive officer owned 1,259,013 shares in the company, valued at approximately $1,196,062.35. The trade was a 4.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 150,000 shares of company stock valued at $160,000. Corporate insiders own 4.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MYO. Ascendiant Capital Markets reduced their target price on shares of Myomo from $11.50 to $10.50 and set a “buy” rating for the company in a research note on Monday, September 22nd. HC Wainwright reduced their price objective on shares of Myomo from $9.50 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Myomo has a consensus rating of “Buy” and an average price target of $7.83.

Myomo Price Performance

Shares of Myomo stock opened at $1.11 on Monday. The firm has a fifty day simple moving average of $1.02 and a 200-day simple moving average of $2.26. The company has a current ratio of 2.39, a quick ratio of 2.03 and a debt-to-equity ratio of 0.08. Myomo, Inc. has a 1-year low of $0.80 and a 1-year high of $7.17. The stock has a market capitalization of $41.96 million, a price-to-earnings ratio of -4.83 and a beta of 1.48.

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.