Palumbo Wealth Management LLC Makes New Investment in Myomo, Inc. (NYSEAMERICAN:MYO)

Palumbo Wealth Management LLC bought a new position in shares of Myomo, Inc. (NYSEAMERICAN:MYO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,564 shares of the company’s stock, valued at approximately $242,000. Palumbo Wealth Management LLC owned approximately 0.12% of Myomo as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Calamos Advisors LLC purchased a new stake in Myomo in the 4th quarter valued at $189,000. Barclays PLC purchased a new stake in shares of Myomo in the third quarter valued at about $36,000. XTX Topco Ltd acquired a new stake in shares of Myomo during the third quarter worth about $149,000. Jane Street Group LLC purchased a new position in shares of Myomo during the third quarter worth about $65,000. Finally, Stonepine Capital Management LLC acquired a new position in Myomo in the 3rd quarter valued at about $401,000. 44.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MYO shares. Craig Hallum lifted their price objective on shares of Myomo from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Ascendiant Capital Markets boosted their price target 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, HC Wainwright restated a “buy” rating and issued a $7.50 price objective on shares of Myomo in a research report on Wednesday, November 13th.

Myomo Price Performance

Shares of MYO stock opened at $6.22 on Friday. The firm has a market capitalization of $188.16 million, a PE ratio of -27.04 and a beta of 1.68. Myomo, Inc. has a fifty-two week low of $2.51 and a fifty-two week high of $7.17.

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.