Stonepine Capital Management LLC Makes New $401,000 Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

Stonepine Capital Management LLC purchased a new position in Myomo, Inc. (NYSEAMERICAN:MYO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the company’s stock, valued at approximately $401,000. Stonepine Capital Management LLC owned about 0.33% of Myomo at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP lifted its position in Myomo by 60.8% during the third quarter. GSA Capital Partners LLP now owns 103,342 shares of the company’s stock valued at $414,000 after purchasing an additional 39,085 shares during the period. Rosalind Advisors Inc. raised its position in shares of Myomo by 13.4% in the third quarter. Rosalind Advisors Inc. now owns 3,021,391 shares of the company’s stock worth $12,116,000 after acquiring an additional 356,392 shares during the period. AlphaCentric Advisors LLC acquired a new position in shares of Myomo in the third quarter worth about $200,000. Vontobel Holding Ltd. acquired a new position in shares of Myomo in the third quarter worth about $90,000. Finally, Essex Investment Management Co. LLC raised its position in shares of Myomo by 40.2% in the third quarter. Essex Investment Management Co. LLC now owns 899,135 shares of the company’s stock worth $3,606,000 after acquiring an additional 257,749 shares during the period. 44.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $7.50 target price on shares of Myomo in a research note on Wednesday, November 13th. Ascendiant Capital Markets boosted their target price on shares of Myomo from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum assumed coverage on shares of Myomo in a research note on Wednesday, July 31st. They set a “buy” rating and a $7.00 target price for the company.

Myomo Price Performance

Shares of NYSEAMERICAN:MYO traded up $0.01 during trading hours on Wednesday, reaching $5.28. The stock had a trading volume of 63,278 shares, compared to its average volume of 322,670. Myomo, Inc. has a 1 year low of $2.51 and a 1 year high of $5.64.

Myomo (NYSEAMERICAN:MYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $9.21 million for the quarter, compared to analyst estimates of $7.95 million. Myomo had a negative net margin of 33.22% and a negative return on equity of 86.30%. As a group, research analysts forecast that Myomo, Inc. will post -0.19 earnings per share for the current year.

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.