Herr Investment Group LLC Purchases 1,200,244 Shares of Myomo, Inc. (NYSEAMERICAN:MYO)

Herr Investment Group LLC boosted its position in shares of Myomo, Inc. (NYSEAMERICAN:MYO) by 72.9% in the second quarter, Holdings Channel reports. The fund owned 2,846,071 shares of the company’s stock after acquiring an additional 1,200,244 shares during the period. Myomo accounts for 0.6% of Herr Investment Group LLC’s investment portfolio, making the stock its 16th biggest holding. Herr Investment Group LLC owned about 0.10% of Myomo worth $9,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in MYO. AIGH Capital Management LLC lifted its stake in shares of Myomo by 4.1% in the second quarter. AIGH Capital Management LLC now owns 2,917,997 shares of the company’s stock valued at $9,367,000 after buying an additional 115,405 shares during the period. Rosalind Advisors Inc. raised its stake in shares of Myomo by 8.9% in the second quarter. Rosalind Advisors Inc. now owns 2,664,999 shares of the company’s stock valued at $8,555,000 after purchasing an additional 217,259 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in Myomo by 537.9% in the first quarter. Essex Investment Management Co. LLC now owns 602,744 shares of the company’s stock worth $1,971,000 after purchasing an additional 508,249 shares during the period. PFG Advisors boosted its stake in Myomo by 74.8% during the first quarter. PFG Advisors now owns 46,760 shares of the company’s stock worth $153,000 after buying an additional 20,016 shares in the last quarter. Finally, Accel Wealth Management increased its holdings in Myomo by 6.0% in the 2nd quarter. Accel Wealth Management now owns 43,882 shares of the company’s stock valued at $141,000 after buying an additional 2,500 shares during the period. 44.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Myomo Trading Up 0.8 %

NYSEAMERICAN:MYO opened at $3.83 on Friday. The stock has a market capitalization of $115.78 million, a price-to-earnings ratio of -14.18 and a beta of 1.54. Myomo, Inc. has a 12 month low of $0.96 and a 12 month high of $5.64.

Myomo (NYSEAMERICAN:MYO) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Myomo, Inc. will post -0.16 earnings per share for the current fiscal year.

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.