Myomo, Inc. (NYSEAMERICAN:MYO) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Myomo, Inc. (NYSEAMERICAN:MYO - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,600 shares of the company's stock after purchasing an additional 56,500 shares during the period. Renaissance Technologies LLC owned approximately 0.66% of Myomo worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MYO. Barclays PLC acquired a new position in Myomo during the third quarter worth $36,000. Jane Street Group LLC purchased a new position in Myomo during the 3rd quarter valued at about $65,000. Thompson Davis & CO. Inc. acquired a new position in Myomo in the 4th quarter valued at about $181,000. Calamos Advisors LLC purchased a new stake in Myomo during the fourth quarter worth about $189,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Myomo during the fourth quarter worth about $229,000. 44.99% of the stock is currently owned by hedge funds and other institutional investors.

Myomo Stock Up 3.0 %

NYSEAMERICAN:MYO traded up $0.14 during midday trading on Friday, hitting $4.88. 334,749 shares of the company were exchanged, compared to its average volume of 349,076. Myomo, Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $7.17. The firm has a market capitalization of $147.62 million, a P/E ratio of -21.22 and a beta of 1.68. The stock has a fifty day moving average of $4.85.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Myomo news, insider Harry Kovelman sold 30,000 shares of the company's 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas F. Kirk bought 7,400 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $5.00 per share, for a total transaction of $37,000.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Company insiders own 4.54% of the company's stock.

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.