Thomas Kirk Purchases 40,002 Shares of Myomo (NYSEAMERICAN:MYO) Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk bought 40,002 shares of Myomo stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $1.27 per share, with a total value of $50,802.54. Following the completion of the acquisition, the director owned 693,865 shares of the company’s stock, valued at $881,208.55. The trade was a 6.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Myomo Stock Up 17.6%

Shares of MYO stock opened at $1.54 on Thursday. Myomo, Inc. has a 12 month low of $0.61 and a 12 month high of $2.95. The stock has a market cap of $59.51 million, a P/E ratio of -4.28 and a beta of 1.47. The company has a current ratio of 2.73, a quick ratio of 2.36 and a debt-to-equity ratio of 1.21. The company has a 50 day simple moving average of $0.90 and a two-hundred day simple moving average of $0.88.

Wall Street Analyst Weigh In

A number of analysts have commented on MYO shares. Ascendiant Capital Markets upped their target price on shares of Myomo from $9.50 to $10.00 and gave the company a “buy” rating in a report on Monday. Craig Hallum reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $7.67.

Hedge Funds Weigh In On Myomo

A number of hedge funds have recently modified their holdings of the company. Rosalind Advisors Inc. boosted its position in shares of Myomo by 1.3% in the fourth quarter. Rosalind Advisors Inc. now owns 3,839,772 shares of the company’s stock worth $3,494,000 after purchasing an additional 48,984 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Myomo in the fourth quarter worth approximately $641,000. Geode Capital Management LLC boosted its position in shares of Myomo by 160.8% in the second quarter. Geode Capital Management LLC now owns 669,281 shares of the company’s stock worth $1,446,000 after purchasing an additional 412,631 shares during the period. AQR Capital Management LLC boosted its position in shares of Myomo by 47.8% in the fourth quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock worth $395,000 after purchasing an additional 140,427 shares during the period. Finally, State Street Corp boosted its position in shares of Myomo by 5.1% in the fourth quarter. State Street Corp now owns 399,853 shares of the company’s stock worth $364,000 after purchasing an additional 19,563 shares during the period. 44.99% of the stock is currently owned by institutional investors.

About Myomo

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.