Ascendiant Capital Markets Lowers Myomo (NYSEAMERICAN:MYO) Price Target to $10.50

Myomo (NYSEAMERICAN:MYO) had its price target cut by research analysts at Ascendiant Capital Markets from $11.50 to $10.50 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

MYO has been the subject of a number of other research reports. Craig Hallum set a $8.00 target price on Myomo and gave the stock a “buy” rating in a report on Monday, June 23rd. HC Wainwright reduced their price objective on Myomo from $9.50 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Myomo in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Myomo currently has an average rating of “Buy” and a consensus target price of $7.83.

Myomo Price Performance

Shares of MYO opened at $0.95 on Monday. The company has a market capitalization of $35.87 million, a P/E ratio of -4.13 and a beta of 1.42. The company has a quick ratio of 2.03, a current ratio of 2.39 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $1.37 and a 200 day moving average of $2.92. Myomo has a twelve month low of $0.80 and a twelve month high of $7.17.

Insiders Place Their Bets

In other Myomo news, Director Thomas F. Kirk bought 50,000 shares of Myomo stock in a transaction dated Monday, August 25th. The shares were purchased at an average cost of $1.15 per share, for a total transaction of $57,500.00. Following the acquisition, the director directly owned 474,420 shares in the company, valued at approximately $545,583. This represents a 11.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul R. Gudonis bought 50,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were acquired at an average price of $0.95 per share, for a total transaction of $47,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,259,013 shares in the company, valued at approximately $1,196,062.35. This represents a 4.14% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 150,000 shares of company stock worth $160,000. 4.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Myomo

Large investors have recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. raised its position in Myomo by 33.0% during the second quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company’s stock valued at $7,767,000 after purchasing an additional 892,127 shares during the period. Lazard Asset Management LLC bought a new position in shares of Myomo during the 2nd quarter valued at approximately $98,000. Engineers Gate Manager LP increased its position in shares of Myomo by 62.8% during the 2nd quarter. Engineers Gate Manager LP now owns 30,097 shares of the company’s stock valued at $65,000 after purchasing an additional 11,614 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Myomo during the 2nd quarter valued at $38,000. Finally, Jump Financial LLC lifted its position in Myomo by 42.2% in the second quarter. Jump Financial LLC now owns 87,000 shares of the company’s stock worth $188,000 after buying an additional 25,802 shares during the last quarter. 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.