Stonepine Capital Management LLC Acquires 174,426 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Stonepine Capital Management LLC grew its holdings in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 174.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,426 shares of the company's stock after purchasing an additional 174,426 shares during the period. Myomo makes up about 1.4% of Stonepine Capital Management LLC's holdings, making the stock its 21st biggest position. Stonepine Capital Management LLC owned about 0.91% of Myomo worth $1,767,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MYO. Barclays PLC purchased a new position in Myomo during the third quarter valued at approximately $36,000. BNP Paribas Financial Markets purchased a new position in Myomo during the fourth quarter valued at approximately $64,000. Walleye Capital LLC purchased a new position in Myomo during the fourth quarter valued at approximately $66,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Myomo in the fourth quarter worth $95,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Myomo in the fourth quarter worth $101,000. Hedge funds and other institutional investors own 44.99% of the company's stock.

Myomo Stock Performance

Shares of MYO traded down $0.14 during midday trading on Wednesday, hitting $3.22. 469,461 shares of the company traded hands, compared to its average volume of 377,572. The firm has a 50 day simple moving average of $4.52. Myomo, Inc. has a 52 week low of $2.76 and a 52 week high of $7.17. The stock has a market cap of $97.41 million, a PE ratio of -14.00 and a beta of 1.68.

Analyst Ratings Changes

MYO has been the topic of a number of research analyst reports. Ascendiant Capital Markets increased their target price on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Alliance Global Partners reissued a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. Craig Hallum lowered their price objective 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. Finally, HC Wainwright raised their price objective on shares of Myomo from $7.50 to $9.50 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $9.50.

Insider Activity

In other news, insider Micah Mitchell sold 48,000 shares of the business's stock in a transaction on 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 sale, the insider now directly owns 140,572 shares of the company's stock, valued at approximately $725,351.52. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harry Kovelman sold 30,000 shares of the company's 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 transaction, the insider now owns 97,973 shares in the company, valued at approximately $538,851.50. The trade was a 23.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 126,167 shares of company stock worth $427,093. 4.54% of the stock is currently owned by corporate insiders.

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.