Geode Capital Management LLC Sells 3,280 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Geode Capital Management LLC lessened its stake in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,098 shares of the company’s stock after selling 3,280 shares during the period. Geode Capital Management LLC owned 0.76% of Myomo worth $919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MYO. Barclays PLC acquired a new position in shares of Myomo during the third quarter worth approximately $36,000. Jane Street Group LLC acquired a new position in Myomo during the 3rd quarter valued at $65,000. Vontobel Holding Ltd. bought a new stake in Myomo in the 3rd quarter valued at $90,000. XTX Topco Ltd acquired a new stake in Myomo in the 3rd quarter worth $149,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Myomo during the 3rd quarter worth about $200,000. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Myomo Stock Down 5.9 %

Shares of NYSEAMERICAN MYO opened at $6.51 on Friday. The company has a market cap of $196.93 million, a P/E ratio of -28.30 and a beta of 1.71. Myomo, Inc. has a 52-week low of $2.51 and a 52-week high of $7.17.

Myomo (NYSEAMERICAN:MYO) last posted its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $9.21 million during the quarter, compared to analysts’ expectations of $7.95 million. Myomo had a negative return on equity of 86.30% and a negative net margin of 33.22%. As a group, equities research analysts predict that Myomo, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Myomo from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Ascendiant Capital Markets increased their price objective on Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of Myomo in a report on Wednesday, November 13th.

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.