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

JPMorgan Chase & Co. purchased a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 institutional investors have also modified their holdings of the company. Jane Street Group LLC purchased a new position in Myomo in the third quarter valued at $65,000. Barclays PLC purchased a new stake in shares of Myomo during the 3rd quarter worth approximately $36,000. Calamos Advisors LLC acquired a new position in Myomo in the fourth quarter valued at $189,000. Palumbo Wealth Management LLC purchased a new stake in shares of Myomo in the 4th quarter valued at about $242,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Myomo in the 4th quarter valued at about $181,000. 44.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Myomo

In other Myomo 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 value of $247,680.00. Following the transaction, the insider now owns 140,572 shares in the company, valued at $725,351.52. The trade was a 25.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Harry Kovelman sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.50, for a total value of $165,000.00. Following the sale, the insider now 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. Company insiders own 4.54% of the company's stock.

Myomo Stock Performance

Shares of MYO traded up $0.04 during trading hours on Tuesday, hitting $4.77. The stock had a trading volume of 363,344 shares, compared to its average volume of 346,068. The stock has a fifty day simple moving average of $4.85. The company has a market capitalization of $144.29 million, a price-to-earnings ratio of -20.74 and a beta of 1.68. Myomo, Inc. has a 12-month low of $2.76 and a 12-month high of $7.17.

Myomo Company 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.