Portolan Capital Management LLC Acquires New Shares in Myomo, Inc. (NYSEAMERICAN:MYO)

Portolan Capital Management LLC bought a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 379,819 shares of the company's stock, valued at approximately $2,446,000. Portolan Capital Management LLC owned 1.26% of Myomo at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of Myomo during the third quarter worth $36,000. Walleye Capital LLC bought a new stake in Myomo during the fourth quarter valued at $66,000. Jane Street Group LLC acquired a new stake in Myomo during the 3rd quarter worth about $65,000. Thompson Davis & CO. Inc. bought a new position in shares of Myomo in the 4th quarter worth about $181,000. Finally, Calamos Advisors LLC bought a new position in shares of Myomo in the 4th quarter worth about $189,000. 44.99% of the stock is owned by institutional investors and hedge funds.

Myomo Stock Up 2.3 %

Shares of NYSEAMERICAN MYO traded up $0.10 during midday trading on Friday, hitting $4.37. 279,521 shares of the stock traded hands, compared to its average volume of 345,525. Myomo, Inc. has a one year low of $2.76 and a one year high of $7.17. The company has a market cap of $132.19 million, a price-to-earnings ratio of -19.00 and a beta of 1.68.

Insiders Place Their Bets

In related news, insider Harry Kovelman sold 30,000 shares of Myomo 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 transaction, the insider now owns 97,973 shares of the company's stock, valued at $538,851.50. The trade was a 23.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Kirk acquired 7,400 shares of the business's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now directly owns 255,933 shares in the company, valued at approximately $1,279,665. The trade was a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MYO shares. HC Wainwright upped their target price on Myomo from $7.50 to $9.50 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Ascendiant Capital Markets increased their price target on Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Alliance Global Partners reiterated a "buy" rating on shares of Myomo in a research note on Tuesday, March 11th. Finally, Craig Hallum increased their target price on shares of Myomo from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Myomo has an average rating of "Buy" and a consensus target price of $9.75.

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.