Insider Buying: Myomo, Inc. (NYSEAMERICAN:MYO) Director Buys 15,000 Shares of Stock

Myomo, Inc. (NYSEAMERICAN:MYO) Director Milton Mayo Morris bought 15,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $1.06 per share, with a total value of $15,900.00. Following the completion of the transaction, the director now owns 77,933 shares of the company’s stock, valued at $82,608.98. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Myomo Price Performance

Shares of NYSEAMERICAN:MYO traded up $0.06 during midday trading on Monday, hitting $1.12. 1,650,459 shares of the company’s stock were exchanged, compared to its average volume of 602,475. The company has a market cap of $23.63 million, a PE ratio of -1.44 and a beta of 0.90. Myomo, Inc. has a 12 month low of $0.37 and a 12 month high of $1.81.

Myomo (NYSEAMERICAN:MYO) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Myomo had a negative net margin of 49.70% and a negative return on equity of 106.09%. The business had revenue of $5.96 million during the quarter, compared to the consensus estimate of $5.75 million. On average, equities research analysts expect that Myomo, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Myomo

Institutional investors have recently added to or reduced their stakes in the company. Worth Venture Partners LLC grew its position in Myomo by 11.0% in the 1st quarter. Worth Venture Partners LLC now owns 153,936 shares of the company’s stock worth $586,000 after purchasing an additional 15,250 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Myomo by 25.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 22,730 shares of the company’s stock worth $87,000 after purchasing an additional 4,609 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Myomo by 66.5% during the 3rd quarter. Renaissance Technologies LLC now owns 40,800 shares of the company’s stock valued at $66,000 after acquiring an additional 16,300 shares during the period. Citadel Advisors LLC grew its position in shares of Myomo by 130.0% during the 2nd quarter. Citadel Advisors LLC now owns 115,522 shares of the company’s stock valued at $60,000 after acquiring an additional 65,293 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Myomo during the 4th quarter valued at approximately $36,000. 21.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Maxim Group started coverage on shares of Myomo in a research report on Thursday, May 25th. They set a “buy” rating for the company.

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, Germany, China, 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.