Renaissance Technologies LLC Raises Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

Renaissance Technologies LLC lifted its stake in Myomo, Inc. (NYSEAMERICAN:MYO) by 39.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,600 shares of the company’s stock after purchasing an additional 56,500 shares during the quarter. Renaissance Technologies LLC owned about 0.66% of Myomo worth $1,285,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC acquired a new position in shares of Myomo in the third quarter valued at about $36,000. Jane Street Group LLC purchased a new stake in Myomo in the third quarter valued at approximately $65,000. Thompson Davis & CO. Inc. acquired a new position in Myomo in the 4th quarter worth approximately $181,000. Calamos Advisors LLC purchased a new position in Myomo during the 4th quarter worth approximately $189,000. Finally, Russell Investments Group Ltd. acquired a new stake in Myomo during the 4th quarter valued at approximately $229,000. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Myomo Stock Performance

Shares of NYSEAMERICAN MYO opened at $4.81 on Tuesday. The stock has a market cap of $145.50 million, a price-to-earnings ratio of -20.91 and a beta of 1.68. Myomo, Inc. has a one year low of $2.76 and a one year high of $7.17. The business has a fifty day moving average of $4.86.

Insider Transactions at Myomo

In other news, insider Micah Mitchell sold 48,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.16, for a total value of $247,680.00. Following the completion of the sale, the insider now directly owns 140,572 shares in the company, valued at $725,351.52. This represents a 25.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas F. Kirk purchased 7,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 255,933 shares of the company’s stock, valued at $1,279,665. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MYO shares. Craig Hallum increased their price objective on shares of Myomo from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Ascendiant Capital Markets lifted their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Alliance Global Partners restated a “buy” rating on shares of Myomo in a research note on Tuesday, March 11th. Finally, HC Wainwright lifted their price target on Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $9.75.

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.