Insider Buying: Myomo (NYSEAMERICAN:MYO) Director Buys $39,494.91 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Thomas Kirk bought 43,401 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $0.91 per share, with a total value of $39,494.91. Following the completion of the acquisition, the director directly owned 628,863 shares in the company, valued at $572,265.33. This trade represents a 7.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Myomo Price Performance

Shares of Myomo stock opened at $0.91 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.73 and a quick ratio of 2.36. The business’s 50 day simple moving average is $0.77 and its two-hundred day simple moving average is $0.84. The stock has a market capitalization of $35.35 million, a P/E ratio of -2.54 and a beta of 1.39. Myomo, Inc. has a one year low of $0.61 and a one year high of $3.39.

Analyst Ratings Changes

Separately, Craig Hallum reiterated 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, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its position in Myomo by 93.6% during the 3rd quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock valued at $27,000 after purchasing an additional 14,705 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Myomo by 103.1% in the 4th quarter. Wells Fargo & Company MN now owns 38,707 shares of the company’s stock worth $35,000 after buying an additional 19,646 shares during the last quarter. Invesco Ltd. purchased a new position in shares of Myomo during the second quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Myomo during the second quarter valued at approximately $38,000. Finally, Jane Street Group LLC bought a new position in shares of Myomo during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Myomo Company Profile

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.