Renaissance Technologies LLC Sells 146,616 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Renaissance Technologies LLC decreased its holdings in Myomo, Inc. (NYSEAMERICAN:MYO) by 52.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,084 shares of the company’s stock after selling 146,616 shares during the period. Renaissance Technologies LLC owned 0.47% of Myomo worth $434,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Herr Investment Group LLC grew its stake in shares of Myomo by 67.9% in the 1st quarter. Herr Investment Group LLC now owns 1,645,827 shares of the company’s stock worth $5,382,000 after buying an additional 665,330 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in Myomo by 537.9% in the 1st quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company’s stock worth $1,971,000 after acquiring an additional 508,249 shares in the last quarter. Rosalind Advisors Inc. increased its position in shares of Myomo by 8.9% during the second quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company’s stock worth $8,555,000 after acquiring an additional 217,259 shares during the period. AIGH Capital Management LLC raised its stake in shares of Myomo by 4.1% during the second quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after acquiring an additional 115,405 shares in the last quarter. Finally, Accel Wealth Management bought a new stake in Myomo during the 1st quarter valued at $135,000. Hedge funds and other institutional investors own 44.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MYO. HC Wainwright lifted their target price on Myomo from $6.50 to $7.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Craig Hallum assumed coverage on shares of Myomo in a research report on Wednesday, July 31st. They set a “buy” rating and a $7.00 price target on the stock. Ascendiant Capital Markets increased their price target on Myomo from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, Lake Street Capital boosted their price objective on Myomo from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, July 9th.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $3.82 on Friday. Myomo, Inc. has a 52-week low of $1.06 and a 52-week high of $5.64. The company has a market capitalization of $115.48 million, a price-to-earnings ratio of -14.15 and a beta of 1.54.

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

Myomo 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.