Perkins Capital Management Inc. Purchases Shares of 75,000 Myomo, Inc. (NYSEAMERICAN:MYO)

Perkins Capital Management Inc. acquired a new position in Myomo, Inc. (NYSEAMERICAN:MYO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 75,000 shares of the company’s stock, valued at approximately $483,000. Perkins Capital Management Inc. owned about 0.25% of Myomo as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barclays PLC acquired a new position in Myomo during the 3rd quarter valued at about $36,000. Jane Street Group LLC purchased a new stake in shares of Myomo during the third quarter worth about $65,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Myomo during the fourth quarter valued at about $1,288,000. Stonepine Capital Management LLC purchased a new position in shares of Myomo in the 3rd quarter valued at approximately $401,000. Finally, Calamos Advisors LLC acquired a new stake in Myomo in the 4th quarter worth approximately $189,000. Institutional investors own 44.99% of the company’s stock.

Myomo Price Performance

NYSEAMERICAN MYO opened at $5.38 on Monday. Myomo, Inc. has a 1 year low of $2.51 and a 1 year high of $7.17. The firm has a market cap of $162.75 million, a P/E ratio of -23.39 and a beta of 1.68.

Insider Activity

In other news, insider Harry Kovelman sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $538,851.50. This trade 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 purchased 7,400 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired 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 in the company, valued at $1,279,665. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MYO. HC Wainwright upped their price target on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Craig Hallum upped their target price on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Ascendiant Capital Markets lifted their price target on Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently 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.