Myomo (NYSEAMERICAN:MYO) Price Target Raised to $11.00 at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYO) had its target price lifted by Ascendiant Capital Markets from $9.00 to $11.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

MYO has been the subject of several other research reports. Craig Hallum lifted their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright lifted their price objective on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.75.

Myomo Stock Up 4.8 %

Shares of MYO opened at $5.44 on Monday. Myomo has a 52-week low of $2.51 and a 52-week high of $7.17. The firm has a market capitalization of $164.56 million, a price-to-earnings ratio of -23.65 and a beta of 1.68.

Insider Transactions at Myomo

In related news, Director Thomas F. Kirk acquired 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $5.00 per share, with a total value of $37,000.00. Following the completion of the purchase, the director now directly owns 255,933 shares in the company, valued at approximately $1,279,665. This trade represents a 2.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now directly owns 140,572 shares of the company’s stock, valued at approximately $725,351.52. This trade represents a 25.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Myomo

A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp grew its stake in Myomo by 17.6% in the fourth quarter. Northern Trust Corp now owns 49,587 shares of the company’s stock valued at $319,000 after acquiring an additional 7,413 shares during the period. Barclays PLC acquired a new position in Myomo in the third quarter valued at about $36,000. BNP Paribas Financial Markets acquired a new position in Myomo in the fourth quarter valued at about $64,000. Walleye Capital LLC acquired a new position in Myomo in the fourth quarter valued at about $66,000. Finally, Squarepoint Ops LLC acquired a new position in Myomo in the fourth quarter valued at about $74,000. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Company 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.