Fintel reports that on December 15, 2023, HC Wainwright & Co. initiated coverage of Myomo (AMEX:MYO) with a Buy recommendation.
Analyst Price Forecast Suggests 6.34% Upside
As of November 27, 2023, the average one-year price target for Myomo is 5.00. The forecasts range from a low of 2.27 to a high of $8.14. The average price target represents an increase of 6.34% from its latest reported closing price of 4.70.
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The projected annual revenue for Myomo is 21MM, an increase of 13.23%. The projected annual non-GAAP EPS is -0.94.
What is the Fund Sentiment?
There are 35 funds or institutions reporting positions in Myomo. This is an increase of 9 owner(s) or 34.62% in the last quarter. Average portfolio weight of all funds dedicated to MYO is 0.06%, an increase of 207.32%. Total shares owned by institutions increased in the last three months by 76.04% to 6,169K shares.
What are Other Shareholders Doing?
AIGH Capital Management holds 2,189K shares representing 8.25% ownership of the company. In it's prior filing, the firm reported owning 2,000K shares, representing an increase of 8.63%. The firm increased its portfolio allocation in MYO by 170.32% over the last quarter.
Worth Venture Partners holds 1,398K shares representing 5.27% ownership of the company. In it's prior filing, the firm reported owning 1,119K shares, representing an increase of 19.93%. The firm increased its portfolio allocation in MYO by 266.22% over the last quarter.
Herr Investment Group holds 1,213K shares representing 4.57% ownership of the company.
UBS Group holds 500K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Essex Investment Management Co holds 293K shares representing 1.10% ownership of the company.
Myomo Background Information
(This description is provided by the company.)
Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper limb orthosis designed to suppor t the arm and restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury. It is currently the only marketed device that, sensing a patient's own EMG signals through non-invasive sensors on the arm, can restore an individual's ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Cambridge, Massachusetts, with sales and clinical professionals across the U.S and representatives internationally.
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