Balyasny Asset Management L.P. Takes $108,000 Position in Myomo, Inc. (NYSEAMERICAN:MYO)

Balyasny Asset Management L.P. acquired a new position in Myomo, Inc. (NYSEAMERICAN:MYO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,775 shares of the company’s stock, valued at approximately $108,000. Balyasny Asset Management L.P. owned 0.06% of Myomo at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Barclays PLC purchased a new stake in Myomo in the 3rd quarter worth approximately $36,000. Calamos Advisors LLC purchased a new stake in Myomo during the fourth quarter valued at $189,000. Palumbo Wealth Management LLC bought a new position in shares of Myomo in the 4th quarter valued at about $242,000. Thompson Davis & CO. Inc. bought a new stake in shares of Myomo in the 4th quarter valued at approximately $181,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Myomo in the fourth quarter worth $1,288,000. 44.99% of the stock is currently owned by institutional investors.

Myomo Stock Up 10.5%

Shares of MYO stock opened at $3.57 on Monday. The stock has a market capitalization of $107.99 million, a P/E ratio of -15.52 and a beta of 1.68. Myomo, Inc. has a 12-month low of $2.76 and a 12-month high of $7.17. The business’s 50 day simple moving average is $4.59.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Ascendiant Capital Markets boosted their price objective on Myomo from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, March 17th. Craig Hallum decreased their price objective on Myomo from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. HC Wainwright raised their target price on shares of Myomo from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Myomo in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.50.

Insider Transactions at Myomo

In other news, CEO Paul R. Gudonis bought 30,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $3.22 per share, for a total transaction of $96,600.00. Following the acquisition, the chief executive officer now directly owns 1,051,671 shares of the company’s stock, valued at $3,386,380.62. This trade represents a 2.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas F. Kirk bought 36,824 shares of Myomo stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $119,678.00. Following the transaction, the director now directly owns 344,700 shares of the company’s stock, valued at approximately $1,120,275. This trade represents a 11.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 126,167 shares of company stock valued at $427,093 over the last 90 days. Corporate insiders own 4.54% of the company’s stock.

Myomo Company 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.