Insider Selling: Myomo (NYSEAMERICAN:MYO) Director Sells $21,150.00 in Stock

Key Points

• Director sale: Myomo Director Milton Mayo Morris sold 15,000 shares at an average price of $1.41, totaling $21,150 and reducing his ownership by 6.71% to 208,391 shares.
• Stock and financial performance: MYO recently traded at $1.44, up 2.9%, while the company reported a quarterly loss of $0.09 per share but exceeded revenue expectations with $11.70 million in sales.
• Analyst outlook: Analysts maintain a consensus “Buy” rating with a $10.00 price target, despite Myomo’s negative net margin and projected full-year loss.

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) Director Milton Mayo Morris sold 15,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $1.41, for a total value of $21,150.00. Following the completion of the transaction, the director directly owned 208,391 shares of the company's stock, valued at approximately $293,831.31. The trade was a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Myomo Stock Up 2.9%

MYO stock traded up $0.04 during trading on Friday, reaching $1.44. 378,123 shares of the company traded hands, compared to its average volume of 601,924. Myomo, Inc. has a 12 month low of $0.60 and a 12 month high of $1.89. The business has a 50 day simple moving average of $1.25 and a 200 day simple moving average of $1.02. The company has a market capitalization of $57.04 million, a price-to-earnings ratio of -4.24 and a beta of 1.50. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.01 and a current ratio of 2.31.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The business had revenue of $11.70 million during the quarter, compared to the consensus estimate of $10.35 million. Myomo had a negative net margin of 33.53% and a negative return on equity of 138.85%. On average, equities research analysts anticipate that Myomo, Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted their price target on shares of Myomo from $9.50 to $10.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Myomo currently has a consensus rating of "Buy" and a consensus price target of $10.00.

Institutional Investors Weigh In On Myomo

A number of large investors have recently modified their holdings of MYO. Rosalind Advisors Inc. increased its holdings in shares of Myomo by 33.0% during the second quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company's stock valued at $7,767,000 after acquiring an additional 892,127 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Myomo during the 4th quarter worth approximately $641,000. Geode Capital Management LLC grew its position in Myomo by 160.8% during the 2nd quarter. Geode Capital Management LLC now owns 669,281 shares of the company's stock worth $1,446,000 after purchasing an additional 412,631 shares during the last quarter. Centiva Capital LP acquired a new position in Myomo during the 3rd quarter valued at approximately $190,000. Finally, Prescott Group Capital Management L.L.C. acquired a new position in Myomo during the 4th quarter valued at approximately $169,000. Hedge funds and other institutional investors own 44.99% of the company's stock.

Myomo Company Profile

Myomo, Inc (NYSE American: MYO) is a medical robotics company specializing in developing and commercializing powered orthotic devices designed to restore mobility and function for individuals with upper-limb weakness. The company's flagship product, the MyoPro®, is an FDA-cleared, wearable robotic orthosis that leverages proprietary sensors and actuators to detect and amplify users' own muscle signals, enabling patients with conditions such as stroke, spinal cord injury, muscular dystrophy and other neuromuscular disorders to perform daily activities with greater independence.

Myomo markets the MyoPro through a network of licensed orthotic and prosthetic professionals, clinics and hospitals across North America.

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