Ascendiant Capital Markets Raises Myomo (NYSEAMERICAN:MYO) Price Target to $11.00

Myomo (NYSEAMERICAN:MYO) had its price target increased by equities researchers at Ascendiant Capital Markets from $9.00 to $11.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would suggest a potential upside of 111.95% from the stock’s current price.

Several other brokerages have also recently weighed in on MYO. Alliance Global Partners reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Craig Hallum increased their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, HC Wainwright boosted their price objective on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Myomo has a consensus rating of “Buy” and an average target price of $9.75.

Myomo Trading Up 2.4 %

NYSEAMERICAN:MYO opened at $5.19 on Monday. The stock has a market capitalization of $157.00 million, a price-to-earnings ratio of -22.57 and a beta of 1.68. Myomo has a 12 month low of $2.51 and a 12 month high of $7.17.

Insiders Place Their Bets

In other news, insider Harry Kovelman sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total transaction of $165,000.00. Following the completion of the sale, the insider now owns 97,973 shares in the company, valued at approximately $538,851.50. This trade represents a 23.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Micah Mitchell sold 48,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.16, for a total transaction of $247,680.00. Following the completion of the transaction, the insider now owns 140,572 shares in the company, valued at approximately $725,351.52. This trade represents a 25.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.54% of the company’s stock.

Institutional Trading of Myomo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. acquired a new position in Myomo during the fourth quarter worth about $101,000. Soleus Capital Management L.P. acquired a new position in Myomo during the 4th quarter worth approximately $5,796,000. Squarepoint Ops LLC acquired a new stake in Myomo in the fourth quarter valued at approximately $74,000. Stonepine Capital Management LLC increased its holdings in shares of Myomo by 174.4% during the fourth quarter. Stonepine Capital Management LLC now owns 274,426 shares of the company’s stock worth $1,767,000 after buying an additional 174,426 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Myomo during the 4th quarter valued at $128,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

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.