Myomo (NYSEAMERICAN:MYO) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Myomo (NYSEAMERICAN:MYO) had its price target hoisted by Ascendiant Capital Markets from $9.50 to $10.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

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

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $1.28 on Monday. The firm has a fifty day moving average price of $0.86 and a 200-day moving average price of $0.87. 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 stock has a market cap of $49.46 million, a PE ratio of -3.56 and a beta of 1.47. Myomo has a 1 year low of $0.61 and a 1 year high of $3.08.

Insider Buying and Selling

In related news, Director Thomas F. Kirk bought 72,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $0.71 per share, for a total transaction of $51,120.00. Following the completion of the transaction, the director owned 553,857 shares in the company, valued at $393,238.47. The trade was a 14.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Heather C. Getz bought 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $0.73 per share, with a total value of $51,100.00. Following the transaction, the director owned 111,754 shares of the company’s stock, valued at $81,580.42. The trade was a 167.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 463,203 shares of company stock worth $383,166. 12.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Myomo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Myomo during the fourth quarter worth $148,000. AQR Capital Management LLC boosted its position in shares of Myomo by 47.8% during the fourth quarter. AQR Capital Management LLC now owns 434,376 shares of the company’s stock worth $395,000 after acquiring an additional 140,427 shares during the last quarter. State Street Corp boosted its position in shares of Myomo by 5.1% during the fourth quarter. State Street Corp now owns 399,853 shares of the company’s stock worth $364,000 after acquiring an additional 19,563 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of 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 acquiring an additional 19,646 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Myomo during the fourth quarter worth $64,000. 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.