Insider Selling: Myomo (NYSEAMERICAN:MYO) Insider Sells $77,598.66 in Stock

Myomo, Inc. (NYSEAMERICAN:MYO) insider Micah Mitchell sold 90,231 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $0.86, for a total transaction of $77,598.66. Following the transaction, the insider directly owned 109,478 shares of the company’s stock, valued at $94,151.08. This trade represents a 45.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Myomo Stock Performance

Shares of MYO stock opened at $0.91 on Monday. Myomo, Inc. has a one year low of $0.61 and a one year high of $3.69. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.36 and a current ratio of 2.73. The company has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.85. The firm has a market capitalization of $35.17 million, a price-to-earnings ratio of -2.53 and a beta of 1.39.

Institutional Investors Weigh In On Myomo

Several institutional investors have recently bought and sold shares of MYO. Bank of America Corp DE grew its stake in Myomo by 93.6% during the third quarter. Bank of America Corp DE now owns 30,412 shares of the company’s stock worth $27,000 after buying an additional 14,705 shares during the period. Wells Fargo & Company MN grew its stake in Myomo by 103.1% during the fourth 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 period. Invesco Ltd. purchased a new stake in Myomo during the second quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Myomo during the second quarter worth approximately $38,000. Finally, Jane Street Group LLC purchased a new stake in Myomo during the fourth quarter worth approximately $64,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum reiterated a “buy” rating on shares of Myomo in a research note on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.67.

About Myomo

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.