Myomo (NYSEAMERICAN:MYO) Given New $11.00 Price Target at Ascendiant Capital Markets

Myomo (NYSEAMERICAN:MYO) had its target price boosted by Ascendiant Capital Markets from $9.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would indicate a potential upside of 107.16% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Craig Hallum boosted their target price on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright boosted their target price on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Myomo in a research note on Tuesday, March 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Myomo currently has an average rating of “Buy” and a consensus price target of $9.75.

Myomo Stock Down 2.4 %

Shares of MYO stock opened at $5.31 on Monday. Myomo has a fifty-two week low of $2.51 and a fifty-two week high of $7.17. The company has a market capitalization of $160.63 million, a price-to-earnings ratio of -23.09 and a beta of 1.68.

Insider Buying and Selling

In related news, insider Harry Kovelman sold 30,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total value of $165,000.00. Following the sale, the insider now directly owns 97,973 shares of the company’s stock, valued at $538,851.50. This represents a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Kirk purchased 7,400 shares of Myomo stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $37,000.00. Following the completion of the purchase, the director now owns 255,933 shares of the company’s stock, valued at $1,279,665. This trade represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Myomo

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in shares of Myomo by 17.6% during the fourth 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 in the last quarter. Barclays PLC bought a new position in shares of Myomo during the third quarter valued at $36,000. BNP Paribas Financial Markets bought a new position in shares of Myomo during the fourth quarter valued at $64,000. Walleye Capital LLC bought a new position in shares of Myomo during the fourth quarter valued at $66,000. Finally, Squarepoint Ops LLC bought a new position in shares of Myomo during the fourth quarter valued at $74,000. 44.99% of the stock is owned by hedge funds and other 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.