MYDA Advisors LLC Makes New $902,000 Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

MYDA Advisors LLC acquired a new stake in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 140,000 shares of the company's stock, valued at approximately $902,000. MYDA Advisors LLC owned about 0.46% of Myomo at the end of the most recent quarter.

Several other large investors have also modified their holdings of MYO. AIGH Capital Management LLC raised its stake in shares of Myomo by 21.7% during the fourth quarter. AIGH Capital Management LLC now owns 3,381,567 shares of the company's stock worth $21,777,000 after purchasing an additional 602,719 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Myomo in the 4th quarter valued at $2,446,000. Aristides Capital LLC purchased a new position in Myomo during the 4th quarter worth $1,288,000. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Myomo in the 4th quarter worth $1,288,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Myomo by 39.5% in the fourth quarter. Renaissance Technologies LLC now owns 199,600 shares of the company's stock valued at $1,285,000 after acquiring an additional 56,500 shares in the last quarter. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO traded up $0.01 during mid-day trading on Friday, reaching $4.89. 90,235 shares of the company traded hands, compared to its average volume of 345,212. The company has a fifty day moving average of $4.86. The firm has a market capitalization of $147.80 million, a price-to-earnings ratio of -21.35 and a beta of 1.68. Myomo, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $7.17.

Insider Activity

In related news, Director Thomas F. Kirk purchased 7,400 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $5.00 per share, with a total value of $37,000.00. Following the purchase, the director now owns 255,933 shares of the company's stock, valued at $1,279,665. This trade represents a 2.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Harry Kovelman sold 30,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were 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 $538,851.50. This represents a 23.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.54% of the company's stock.

Wall Street Analyst Weigh In

MYO has been the subject of a number of research analyst reports. Alliance Global Partners reiterated a "buy" rating on shares of Myomo in a report on Tuesday, March 11th. Ascendiant Capital Markets raised their price target on shares of Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Craig Hallum upped their target price on Myomo from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, HC Wainwright increased 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $9.75.

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.