Myomo (NYSEAMERICAN:MYO) PT Set at $8.00 by Craig Hallum

Myomo (NYSEAMERICAN:MYO) has been given a $8.00 price target by equities researchers at Craig Hallum in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 247.83% from the stock’s previous close.

Several other brokerages have also recently weighed in on MYO. Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a research report on Tuesday, March 11th. Ascendiant Capital Markets raised their target price on Myomo from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, HC Wainwright lifted 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Myomo presently has an average rating of “Buy” and a consensus price target of $9.13.

Myomo Price Performance

Shares of NYSEAMERICAN MYO opened at $2.30 on Monday. The firm’s 50-day simple moving average is $3.48. The firm has a market capitalization of $82.75 million, a PE ratio of -15.33 and a beta of 1.49. Myomo has a 1 year low of $2.20 and a 1 year high of $7.17.

Insider Buying and Selling

In related news, CEO Paul R. Gudonis purchased 30,000 shares of Myomo stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $3.22 per share, for a total transaction of $96,600.00. Following the completion of the transaction, the chief executive officer now owns 1,051,671 shares in the company, valued at $3,386,380.62. This represents a 2.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas F. Kirk acquired 36,824 shares of the stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $3.25 per share, for a total transaction of $119,678.00. Following the transaction, the director now owns 344,700 shares of the company’s stock, valued at approximately $1,120,275. This trade represents a 11.96% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 118,767 shares of company stock worth $390,093. 4.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in Myomo during the fourth quarter worth about $64,000. Walleye Capital LLC bought a new stake in shares of Myomo in the fourth quarter valued at approximately $66,000. Squarepoint Ops LLC purchased a new stake in shares of Myomo during the 4th quarter valued at approximately $74,000. Dynamic Technology Lab Private Ltd bought a new position in Myomo in the 1st quarter worth approximately $75,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Myomo in the 4th quarter valued at approximately $95,000. Institutional investors own 44.99% of the company’s stock.

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.