AIGH Capital Management LLC Sells 474,878 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

AIGH Capital Management LLC reduced its stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,906,689 shares of the company's stock after selling 474,878 shares during the period. Myomo accounts for about 5.8% of AIGH Capital Management LLC's investment portfolio, making the stock its 2nd largest position. AIGH Capital Management LLC owned 9.61% of Myomo worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MYO. Vontobel Holding Ltd. grew its stake in Myomo by 20.2% during the 1st quarter. Vontobel Holding Ltd. now owns 27,219 shares of the company's stock valued at $131,000 after acquiring an additional 4,574 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Myomo by 2,516.3% during the fourth quarter. Bank of America Corp DE now owns 48,427 shares of the company's stock worth $312,000 after buying an additional 46,576 shares during the last quarter. Jane Street Group LLC increased its position in shares of Myomo by 447.2% during the fourth quarter. Jane Street Group LLC now owns 88,320 shares of the company's stock valued at $569,000 after purchasing an additional 72,180 shares during the period. Northern Trust Corp increased its position 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 during the period. Finally, Millennium Management LLC acquired a new position in shares of Myomo during the fourth quarter worth approximately $780,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Myomo Stock Performance

MYO stock traded up $0.04 during mid-day trading on Tuesday, reaching $2.14. The company's stock had a trading volume of 137,646 shares, compared to its average volume of 400,532. The company's 50 day moving average price is $2.66. Myomo, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $7.17. The stock has a market cap of $76.82 million, a PE ratio of -14.23 and a beta of 1.39.

Insider Buying and Selling at Myomo

In related news, CEO Paul R. Gudonis bought 30,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $3.22 per share, for a total transaction of $96,600.00. Following the completion of the acquisition, the chief executive officer owned 1,051,671 shares in the company, valued at $3,386,380.62. This trade represents a 2.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Kirk purchased 50,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $3.35 per share, for a total transaction of $167,500.00. Following the completion of the acquisition, the director directly owned 305,933 shares of the company's stock, valued at $1,024,875.55. This represents a 19.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,767 shares of company stock worth $390,093 over the last three months. 4.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MYO. Ascendiant Capital Markets boosted their price target on Myomo from $11.00 to $11.50 and gave the stock a "buy" rating in a report on Thursday, June 5th. Craig Hallum set a $8.00 target price on Myomo and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Myomo in a research report on Thursday, June 26th.

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.

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