Rosalind Advisors Inc. Acquires 356,392 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Rosalind Advisors Inc. increased its stake in Myomo, Inc. (NYSEAMERICAN:MYO) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,021,391 shares of the company’s stock after purchasing an additional 356,392 shares during the quarter. Myomo comprises about 7.6% of Rosalind Advisors Inc.’s portfolio, making the stock its 3rd biggest holding. Rosalind Advisors Inc. owned 9.99% of Myomo worth $12,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accel Wealth Management raised its stake in shares of Myomo by 6.0% in the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock worth $141,000 after buying an additional 2,500 shares in the last quarter. PFG Advisors lifted its holdings in Myomo by 74.8% in the 1st quarter. PFG Advisors now owns 46,760 shares of the company’s stock valued at $153,000 after acquiring an additional 20,016 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Myomo during the 3rd quarter valued at about $90,000. Bailard Inc. acquired a new position in shares of Myomo in the 2nd quarter worth approximately $109,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Myomo in the 3rd quarter worth approximately $200,000. Institutional investors own 44.99% of the company’s stock.

Myomo Trading Up 3.4 %

NYSEAMERICAN:MYO opened at $3.96 on Wednesday. The firm has a market capitalization of $119.71 million, a P/E ratio of -15.23 and a beta of 1.56. Myomo, Inc. has a 1 year low of $1.41 and a 1 year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $7.52 million during the quarter, compared to analysts’ expectations of $7.30 million. Myomo had a negative return on equity of 93.10% and a negative net margin of 44.75%. Research analysts forecast that Myomo, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

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