AIGH Capital Management LLC Buys 602,719 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

AIGH Capital Management LLC boosted its holdings in Myomo, Inc. (NYSEAMERICAN:MYO) by 21.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,381,567 shares of the company’s stock after buying an additional 602,719 shares during the quarter. Myomo comprises about 6.8% of AIGH Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. AIGH Capital Management LLC owned 0.11% of Myomo worth $21,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MYO. Barclays PLC acquired a new position in Myomo in the 3rd quarter valued at $36,000. Jane Street Group LLC purchased a new position in shares of Myomo during the 3rd quarter worth approximately $65,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Myomo in the fourth quarter valued at $181,000. Calamos Advisors LLC purchased a new stake in shares of Myomo during the fourth quarter worth about $189,000. Finally, XTX Topco Ltd purchased a new position in shares of Myomo during the 3rd quarter worth $149,000. Institutional investors and hedge funds own 44.99% of the company’s stock.

Analyst Ratings Changes

MYO has been the subject of several research reports. Ascendiant Capital Markets boosted their price objective on shares of Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, March 17th. HC Wainwright raised their target price on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a report on Tuesday, March 11th. Finally, Craig Hallum upped their price objective on 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, Based on data from MarketBeat.com, Myomo has a consensus rating of “Buy” and an average price target of $9.75.

Myomo Stock Performance

MYO stock opened at $4.86 on Friday. The company has a market capitalization of $147.02 million, a PE ratio of -21.13 and a beta of 1.68. Myomo, Inc. has a 1-year low of $2.51 and a 1-year high of $7.17.

Insider Activity at Myomo

In other news, insider Micah Mitchell sold 48,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.16, for a total transaction of $247,680.00. Following the completion of the sale, the insider now owns 140,572 shares of the company’s stock, valued at approximately $725,351.52. This represents a 25.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas F. Kirk acquired 7,400 shares of Myomo stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost 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 of the company’s stock, 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. 4.54% of the stock is currently owned by company insiders.

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.