Ascendiant Capital Markets Boosts Myomo (NYSEAMERICAN:MYO) Price Target to $11.50

Myomo (NYSEAMERICAN:MYO - Free Report) had its price objective upped by Ascendiant Capital Markets from $11.00 to $11.50 in a research report report published on Thursday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

MYO has been the subject of a number of other research reports. HC Wainwright raised their price target on shares of Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Alliance Global Partners restated a "buy" rating on shares of Myomo in a report on Tuesday, March 11th. Finally, Craig Hallum cut their price target on shares of Myomo from $11.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $9.63.

Myomo Trading Up 3.8%

MYO traded up $0.11 during trading on Thursday, reaching $2.99. The company's stock had a trading volume of 1,361,173 shares, compared to its average volume of 390,613. The stock has a fifty day simple moving average of $4.03. Myomo has a 1 year low of $2.76 and a 1 year high of $7.17. The company has a market capitalization of $90.45 million, a P/E ratio of -13.00 and a beta of 1.68.

Insider Activity at Myomo

In other Myomo news, CEO Paul R. Gudonis purchased 30,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $3.22 per share, for a total transaction of $96,600.00. Following the completion of the purchase, the chief executive officer now directly owns 1,051,671 shares in the company, valued at approximately $3,386,380.62. The trade was a 2.94% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas F. Kirk purchased 7,400 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $5.00 per share, with a total value of $37,000.00. Following the purchase, the director now owns 255,933 shares of the company's stock, valued at approximately $1,279,665. This represents a 2.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 126,167 shares of company stock worth $427,093. Insiders own 4.54% of the company's stock.

Hedge Funds Weigh In On Myomo

Several institutional investors have recently modified their holdings of the business. Soleus Capital Management L.P. acquired a new position in shares of Myomo during the fourth quarter worth $5,796,000. AIGH Capital Management LLC grew its stake in shares of Myomo by 21.7% during the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company's stock worth $21,777,000 after purchasing an additional 602,719 shares in the last quarter. Portolan Capital Management LLC acquired a new position in shares of Myomo during the fourth quarter worth $2,446,000. Manatuck Hill Partners LLC acquired a new position in shares of Myomo during the fourth quarter worth $1,582,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Myomo during the fourth quarter worth $1,288,000. Institutional investors and hedge funds own 44.99% of the company's 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.