Zacks Investment Research lowered shares of Myomo (NYSEAMERICAN:MYO) from a hold rating to a sell rating in a research report released on Wednesday.
According to Zacks, “Myomo, Inc. is a commercial stage medical robotics company. It offers expanded mobility which suffering from neurological disorders and upper limb paralysis. The company develops and markets the MyoPro(R) product line of lightweight, non-invasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals. Myomo, Inc. is headquartered in Cambridge,Massachusetts. “
Separately, HC Wainwright set a $12.00 target price on Myomo and gave the company a buy rating in a research note on Tuesday, August 14th.
Myomo (NYSEAMERICAN:MYO) last posted its quarterly earnings data on Tuesday, August 7th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.02). Myomo had a negative net margin of 257.70% and a negative return on equity of 155.42%. The company had revenue of $0.63 million for the quarter, compared to the consensus estimate of $0.62 million.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Account Management LLC purchased a new stake in Myomo during the 2nd quarter valued at $312,000. A.R.T. Advisors LLC purchased a new stake in Myomo during the 1st quarter valued at $277,000. Finally, Citadel Advisors LLC boosted its stake in Myomo by 243.9% during the 1st quarter. Citadel Advisors LLC now owns 40,861 shares of the company’s stock valued at $121,000 after purchasing an additional 28,981 shares during the last quarter.
Myomo, Inc, a commercial stage medical robotics company, designs, develops, and produces myoelectric braces or orthotics for people suffering with neuromuscular disorders in the United States. It offers MyoPro, a powered upper limb orthosis that supports the arm, as well as restores function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain injury, spinal cord injury, ALS, or other neuromuscular disease or injury.
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