Insider Buying: Myomo, Inc. (NYSEAMERICAN:MYO) CEO Purchases $96,600.00 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) CEO Paul R. Gudonis purchased 30,000 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $3.22 per share, with a total value of $96,600.00. Following the completion of the acquisition, the chief executive officer now owns 1,051,671 shares in the company, valued at approximately $3,386,380.62. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Myomo Price Performance

NYSEAMERICAN MYO opened at $3.57 on Friday. Myomo, Inc. has a 52-week low of $2.76 and a 52-week high of $7.17. The company has a market cap of $107.99 million, a P/E ratio of -15.52 and a beta of 1.68. The stock’s fifty day moving average is $4.59.

Analyst Ratings Changes

Several brokerages have commented on MYO. Craig Hallum cut their price target on shares of Myomo from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Alliance Global Partners reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. HC Wainwright raised their price target on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, Ascendiant Capital Markets raised their price target on shares of Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, March 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Myomo currently has a consensus rating of “Buy” and an average target price of $9.50.

Institutional Trading of Myomo

A number of hedge funds have recently made changes to their positions in MYO. Soleus Capital Management L.P. bought a new stake in shares of Myomo during the 4th quarter worth $5,796,000. AIGH Capital Management LLC raised its position in Myomo by 21.7% in 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 period. Portolan Capital Management LLC purchased a new position in Myomo in the 4th quarter worth $2,446,000. Manatuck Hill Partners LLC purchased a new position in Myomo in the 4th quarter worth $1,582,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in Myomo in the 4th quarter worth $1,288,000. 44.99% of the stock is owned by institutional investors.

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.