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In a recent transaction filed with the Securities and Exchange Commission, Kirk Thomas F, a director at Myomo, Inc. (NYSE:MYO), purchased 50,000 shares of the company’s common stock. The insider purchase comes as the stock has declined over 34% in the past week and is currently trading near $3.19, significantly below its 52-week high of $7.17. The shares were acquired on May 12, 2025, at a price of $3.35 per share, amounting to a total transaction value of $167,500.
Following this purchase, Kirk Thomas F’s direct ownership in Myomo increased to 305,933 shares. The acquisition was made in multiple lots through open market transactions, as noted in the filing.
In other recent news, Myomo Inc reported strong financial results for the first quarter of 2025, with a significant 162% increase in revenue year-over-year, reaching $9.8 million. This figure exceeded the forecast of $9.3 million, highlighting the company’s successful growth strategy. The earnings per share (EPS) met expectations at -$0.08, indicating stability in financial performance. Myomo’s gross margin improved to 67.2% from 61.2% a year earlier, reflecting operational efficiencies. Despite these positive financial indicators, the company’s stock experienced a decline following the earnings announcement.
The company forecasts a return to positive operating cash flow by the fourth quarter of 2025. Analysts from firms like Craig Hallum and Alliance Global Partners (NYSE:GLP) have shown interest in Myomo’s strategic initiatives, particularly its international expansion and efforts to enhance its Orthotics and Prosthetics (O&P) channel. Myomo’s CEO, Paul Gudonis, emphasized the company’s focus on scaling operations and achieving financial sustainability. The company’s international business, primarily in Germany, generated over $1.3 million in revenue, showcasing its potential for growth in overseas markets. Myomo continues to invest in marketing and product development to support its long-term growth objectives.
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