Rosalind Advisors Inc. Has $12.12 Million Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

Rosalind Advisors Inc. grew its holdings in Myomo, Inc. (NYSEAMERICAN:MYO) by 13.4% during the third quarter, Holdings Channel.com reports. The firm owned 3,021,391 shares of the company’s stock after acquiring an additional 356,392 shares during the period. Myomo accounts for about 7.6% of Rosalind Advisors Inc.’s portfolio, making the stock its 3rd largest position. Rosalind Advisors Inc. owned 0.10% of Myomo worth $12,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MYO. AlphaCentric Advisors LLC acquired a new position in shares of Myomo during the third quarter worth approximately $200,000. Vontobel Holding Ltd. bought a new position in Myomo in the 3rd quarter worth approximately $90,000. Essex Investment Management Co. LLC lifted its holdings in Myomo by 40.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock worth $3,606,000 after buying an additional 257,749 shares in the last quarter. Herr Investment Group LLC boosted its position in Myomo by 72.9% in the 2nd quarter. Herr Investment Group LLC now owns 2,846,071 shares of the company’s stock valued at $9,136,000 after buying an additional 1,200,244 shares during the last quarter. Finally, AIGH Capital Management LLC increased its stake in shares of Myomo by 4.1% in the 2nd quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after buying an additional 115,405 shares during the period. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Myomo Price Performance

Myomo stock opened at $3.96 on Wednesday. The stock has a market cap of $119.71 million, a PE ratio of -15.23 and a beta of 1.56. Myomo, Inc. has a one year low of $1.41 and a one year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $7.52 million for the quarter, compared to the consensus estimate of $7.30 million. Myomo had a negative net margin of 44.75% and a negative return on equity of 93.10%. On average, sell-side analysts expect that Myomo, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MYO shares. Lake Street Capital boosted their target price on Myomo from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Ascendiant Capital Markets boosted their price target on shares of Myomo from $8.25 to $8.50 and gave the company a “buy” rating in a report on Monday, August 19th. HC Wainwright boosted their target price on Myomo from $6.50 to $7.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Craig Hallum initiated coverage on shares of Myomo in a report on Wednesday, July 31st. They set a “buy” rating and a $7.00 target price on the stock.

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.