Myomo, Inc. (NYSEAMERICAN:MYO) Shares Acquired by Herr Investment Group LLC

Herr Investment Group LLC increased its stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 72.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,846,071 shares of the company’s stock after acquiring an additional 1,200,244 shares during the period. Myomo makes up approximately 0.6% of Herr Investment Group LLC’s holdings, making the stock its 16th largest holding. Herr Investment Group LLC owned about 9.88% of Myomo worth $9,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MYO. Summit Financial Strategies Inc. acquired a new position in shares of Myomo in the fourth quarter worth about $50,000. Bailard Inc. purchased a new position in shares of Myomo during the 2nd quarter valued at approximately $109,000. Accel Wealth Management acquired a new stake in shares of Myomo during the first quarter worth approximately $135,000. PFG Advisors increased its stake in shares of Myomo by 74.8% in the first quarter. PFG Advisors now owns 46,760 shares of the company’s stock worth $153,000 after buying an additional 20,016 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Myomo by 537.9% in the first quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company’s stock worth $1,971,000 after buying an additional 508,249 shares during the last quarter. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Myomo Stock Up 0.8 %

Myomo stock opened at $3.83 on Friday. Myomo, Inc. has a 12-month low of $0.96 and a 12-month high of $5.64. The company has a market capitalization of $115.78 million, a PE ratio of -14.18 and a beta of 1.54.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. Myomo had a negative return on equity of 93.10% and a negative net margin of 44.75%. The company had revenue of $7.52 million for the quarter, compared to the consensus estimate of $7.30 million. As a group, sell-side analysts anticipate that Myomo, Inc. will post -0.16 EPS for the current fiscal year.

Analyst Ratings Changes

MYO has been the subject of several recent analyst reports. Craig Hallum began coverage on shares of Myomo in a report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright increased their target price on Myomo from $6.50 to $7.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Ascendiant Capital Markets upped their price target on Myomo from $8.25 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Lake Street Capital lifted their price objective on shares of Myomo from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Tuesday, July 9th.

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.