Stratos Wealth Partners LTD. Trims Stock Holdings in Myomo, Inc. (NYSEAMERICAN:MYO)

Stratos Wealth Partners LTD. reduced its holdings in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the company’s stock after selling 12,500 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Myomo were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MYO. Vontobel Holding Ltd. lifted its stake in shares of Myomo by 20.2% during the 1st quarter. Vontobel Holding Ltd. now owns 27,219 shares of the company’s stock worth $131,000 after acquiring an additional 4,574 shares during the last quarter. Bank of America Corp DE grew its stake in Myomo by 2,516.3% during the 4th quarter. Bank of America Corp DE now owns 48,427 shares of the company’s stock worth $312,000 after buying an additional 46,576 shares during the last quarter. Northern Trust Corp lifted its position in Myomo by 17.6% during the 4th quarter. Northern Trust Corp now owns 49,587 shares of the company’s stock worth $319,000 after acquiring an additional 7,413 shares during the period. Jane Street Group LLC lifted its position in Myomo by 447.2% during the 4th quarter. Jane Street Group LLC now owns 88,320 shares of the company’s stock worth $569,000 after acquiring an additional 72,180 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Myomo in the 4th quarter valued at about $780,000. Institutional investors own 44.99% of the company’s stock.

Myomo Stock Performance

NYSEAMERICAN:MYO opened at $2.05 on Friday. The company has a fifty day moving average price of $2.68. Myomo, Inc. has a 52 week low of $1.85 and a 52 week high of $7.17. The company has a market cap of $73.76 million, a price-to-earnings ratio of -13.67 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Ascendiant Capital Markets upped their price target on Myomo from $11.00 to $11.50 and gave the company a “buy” rating in a research report on Thursday, June 5th. Craig Hallum set a $8.00 price target on Myomo and gave the company a “buy” rating in a research note on Monday, June 23rd. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Myomo in a report on Thursday, June 26th.

Insiders Place Their Bets

In other Myomo news, CEO Paul R. Gudonis purchased 30,000 shares of Myomo stock in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $3.22 per share, with a total value of $96,600.00. Following the transaction, the chief executive officer directly owned 1,051,671 shares of the company’s stock, valued at $3,386,380.62. This trade represents a 2.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas F. Kirk acquired 50,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $3.35 per share, with a total value of $167,500.00. Following the completion of the acquisition, the director owned 305,933 shares in the company, valued at approximately $1,024,875.55. This represents a 19.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 118,767 shares of company stock worth $390,093. Insiders own 4.79% of the company’s stock.

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.