683 Capital Management LLC Takes $713,000 Position in Myomo, Inc. (NYSEAMERICAN:MYO)

683 Capital Management LLC purchased a new position in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 110,760 shares of the company's stock, valued at approximately $713,000. 683 Capital Management LLC owned approximately 0.37% of Myomo as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC acquired a new stake in shares of Myomo in the 3rd quarter valued at about $36,000. Jane Street Group LLC bought a new position in Myomo during the 3rd quarter worth approximately $65,000. Walleye Capital LLC bought a new position in Myomo during the 4th quarter worth approximately $66,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Myomo in the 4th quarter worth approximately $95,000. Finally, Thompson Davis & CO. Inc. bought a new position in Myomo during the fourth quarter worth $181,000. Hedge funds and other institutional investors own 44.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MYO shares. Alliance Global Partners restated a "buy" rating on shares of Myomo in a research report on Tuesday, March 11th. Ascendiant Capital Markets upped their target price on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a report on Monday, March 17th. Craig Hallum raised 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 Myomo from $7.50 to $9.50 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $9.75.

Insiders Place Their Bets

In other news, insider Micah Mitchell sold 48,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.16, for a total value of $247,680.00. Following the completion of the sale, the insider now owns 140,572 shares in the company, valued at $725,351.52. This represents a 25.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harry Kovelman sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 97,973 shares of the company's stock, valued at $538,851.50. This trade represents a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.54% of the stock is currently owned by insiders.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $4.74 on Friday. Myomo, Inc. has a 12-month low of $2.76 and a 12-month high of $7.17. The firm has a market capitalization of $143.39 million, a P/E ratio of -20.61 and a beta of 1.68. The business's 50 day simple moving average is $4.85.

Myomo 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.

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