JPMorgan Chase & Co. Acquires Shares of 90,147 Myomo, Inc. (NYSEAMERICAN:MYO)

JPMorgan Chase & Co. bought a new stake in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 90,147 shares of the company's stock, valued at approximately $581,000. JPMorgan Chase & Co. owned 0.30% of Myomo as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in Myomo in the 3rd quarter valued at $36,000. Jane Street Group LLC acquired a new position in shares of Myomo during the third quarter worth about $65,000. Thompson Davis & CO. Inc. purchased a new position in Myomo during the fourth quarter worth about $181,000. Calamos Advisors LLC purchased a new stake in Myomo in the 4th quarter valued at approximately $189,000. Finally, Palumbo Wealth Management LLC acquired a new position in Myomo during the 4th quarter worth approximately $242,000. Hedge funds and other institutional investors own 44.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MYO shares. Ascendiant Capital Markets increased their price objective on Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. HC Wainwright raised their price target on Myomo from $7.50 to $9.50 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Craig Hallum boosted their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, Alliance Global Partners restated a "buy" rating on shares of Myomo in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $9.75.

Insider Transactions at Myomo

In other news, insider Micah Mitchell sold 48,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was 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 owns 140,572 shares in the company, valued at approximately $725,351.52. The trade was a 25.45 % decrease in their position. 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 stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $5.50, for a total transaction of $165,000.00. Following the sale, the insider now directly owns 97,973 shares of the company's stock, valued at approximately $538,851.50. This trade represents a 23.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.54% of the company's stock.

Myomo Price Performance

Shares of NYSEAMERICAN MYO traded up $0.14 during midday trading on Friday, reaching $4.88. 334,749 shares of the stock were exchanged, compared to its average volume of 349,466. The stock has a market capitalization of $147.62 million, a P/E ratio of -21.22 and a beta of 1.68. Myomo, Inc. has a 52-week low of $2.76 and a 52-week high of $7.17. The stock's 50 day simple moving average is $4.85.

Myomo 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.