Millennium Management LLC Takes Position in Myomo, Inc. (NYSEAMERICAN:MYO)

Millennium Management LLC purchased a new stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 121,161 shares of the company's stock, valued at approximately $780,000. Millennium Management LLC owned about 0.40% of Myomo at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Myomo during the fourth quarter worth $64,000. Walleye Capital LLC acquired a new stake in Myomo in the 4th quarter worth about $66,000. Schonfeld Strategic Advisors LLC bought a new stake in Myomo in the 4th quarter valued at about $95,000. Jefferies Financial Group Inc. bought a new stake in Myomo in the 4th quarter valued at about $101,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Myomo during the 4th quarter worth approximately $108,000. 44.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Myomo

In related news, Director Thomas F. Kirk acquired 50,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $3.35 per share, for a total transaction of $167,500.00. Following the completion of the acquisition, the director now owns 305,933 shares of the company's stock, valued at approximately $1,024,875.55. This represents a 19.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Harry Kovelman sold 30,000 shares of Myomo stock in a transaction dated 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 in the company, valued at approximately $538,851.50. This represents a 23.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 126,167 shares of company stock valued at $427,093. Corporate insiders own 4.54% of the company's stock.

Wall Street Analyst Weigh In

MYO has been the subject of several recent research reports. Alliance Global Partners reiterated a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. Ascendiant Capital Markets lifted their price objective on Myomo from $11.00 to $11.50 and gave the company a "buy" rating in a report on Thursday, June 5th. HC Wainwright increased their target price on Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Finally, Craig Hallum decreased their price target on Myomo from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $9.63.

Myomo Stock Performance

MYO traded down $0.09 during trading on Tuesday, hitting $2.88. 314,134 shares of the stock traded hands, compared to its average volume of 392,804. The business's 50 day moving average is $3.92. Myomo, Inc. has a twelve month low of $2.76 and a twelve month high of $7.17. The firm has a market cap of $87.12 million, a P/E ratio of -12.52 and a beta of 1.68.

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.