Insider Selling: Myomo (NYSEAMERICAN:MYO) Insider Sells 17,250 Shares of Stock

Key Points

• Myomo insider Harry Kovelman sold 17,250 shares at an average price of $1.73, totaling $29,842.50. The sale reduced his ownership by 14% to 105,983 shares.
• Myomo shares traded at $1.73, near their 52-week high of $1.89, while the company reported quarterly revenue of $11.70 million and an EPS loss of $0.09, slightly better than analyst expectations.
• Analysts maintain a “Buy” rating with an average price target of $10.00, while institutional and hedge-fund investors own approximately 44.99% of the company.

Myomo, Inc. (NYSEAMERICAN:MYO - Get Free Report) insider Harry Kovelman sold 17,250 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1.73, for a total transaction of $29,842.50. Following the transaction, the insider owned 105,983 shares of the company's stock, valued at $183,350.59. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Harry Kovelman also recently made the following trade(s):

• On Wednesday, May 27th, Harry Kovelman sold 20,464 shares of Myomo stock. The shares were sold at an average price of $1.00, for a total transaction of $20,464.00.
• On Thursday, May 28th, Harry Kovelman sold 11,536 shares of Myomo stock. The shares were sold at an average price of $1.02, for a total transaction of $11,766.72.

Myomo Price Performance

Shares of MYO traded down $0.01 during mid-day trading on Friday, reaching $1.73. 1,087,832 shares of the company's stock were exchanged, compared to its average volume of 607,950. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 1.98. The company has a market cap of $68.53 million, a price-to-earnings ratio of -5.09 and a beta of 1.50. Myomo, Inc. has a 52-week low of $0.60 and a 52-week high of $1.89. The company has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $0.97.

Myomo (NYSEAMERICAN:MYO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $11.70 million during the quarter, compared to analysts' expectations of $10.35 million. Myomo had a negative return on equity of 138.85% and a negative net margin of 33.53%. On average, sell-side analysts predict that Myomo, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Myomo

Institutional investors have recently bought and sold shares of the business. Rosalind Advisors Inc. boosted its position in Myomo by 33.0% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,595,788 shares of the company's stock worth $7,767,000 after purchasing an additional 892,127 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Myomo during the fourth quarter worth about $641,000. Geode Capital Management LLC lifted its stake in shares of Myomo by 160.8% during the second 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 in the last quarter. Centiva Capital LP purchased a new stake in shares of Myomo in the third quarter worth about $190,000. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in shares of Myomo in the fourth quarter valued at about $169,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Myomo

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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