Schonfeld Strategic Advisors LLC Acquires New Shares in Myomo, Inc. (NYSEAMERICAN:MYO)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) in the fourth quarter, Holdings Channel reports. The fund acquired 14,685 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in Myomo by 17.6% during the 4th quarter. Northern Trust Corp now owns 49,587 shares of the company’s stock valued at $319,000 after purchasing an additional 7,413 shares during the period. Dauntless Investment Group LLC acquired a new position in shares of Myomo during the fourth quarter worth approximately $1,070,000. MYDA Advisors LLC acquired a new position in shares of Myomo during the fourth quarter worth approximately $902,000. Marshall Wace LLP acquired a new position in shares of Myomo during the fourth quarter worth approximately $572,000. Finally, Jump Financial LLC acquired a new position in Myomo during the 4th quarter worth $228,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Insider Activity

In other news, insider Harry Kovelman sold 30,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total transaction of $165,000.00. Following the completion of the sale, the insider now owns 97,973 shares in the company, valued at approximately $538,851.50. This represents a 23.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas F. Kirk bought 7,400 shares of Myomo stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $5.00 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 255,933 shares of the company’s stock, valued at $1,279,665. The trade was a 2.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Alliance Global Partners reiterated a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Craig Hallum reduced their price objective 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. Ascendiant Capital Markets upped their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, HC Wainwright upped their price target on shares of Myomo from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Myomo presently has an average rating of “Buy” and an average price target of $9.50.

Myomo Stock Performance

Shares of Myomo stock opened at $3.25 on Thursday. The firm has a market capitalization of $98.31 million, a price-to-earnings ratio of -14.13 and a beta of 1.68. The company has a fifty day moving average price of $4.66. Myomo, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $7.17.

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.