Northern Trust Corp raised its position in MyoKardia, Inc. (NASDAQ:MYOK) by 31.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,983 shares of the biotechnology company’s stock after buying an additional 49,044 shares during the quarter. Northern Trust Corp owned about 0.65% of MyoKardia worth $2,658,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Nationwide Fund Advisors grew its holdings in shares of MyoKardia by 36.3% during the 2nd quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 2,591 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of MyoKardia during the 2nd quarter valued at approximately $148,000. State of Wisconsin Investment Board bought a new stake in shares of MyoKardia during the 2nd quarter valued at approximately $157,000. Rhumbline Advisers grew its holdings in shares of MyoKardia by 45.4% during the 2nd quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock valued at $242,000 after purchasing an additional 5,773 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of MyoKardia by 2.5% during the 2nd quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock valued at $243,000 after purchasing an additional 455 shares during the last quarter. 44.93% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on MYOK shares. BidaskClub raised shares of MyoKardia from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Zacks Investment Research lowered shares of MyoKardia from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 price target (up from $45.00) on shares of MyoKardia in a report on Monday, August 21st. Cowen Inc lifted their price target on shares of MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $48.00 price target (up from $31.00) on shares of MyoKardia in a report on Monday, August 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $55.00.
In related news, Director Kevin P. Starr sold 75,313 shares of MyoKardia stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $40.28, for a total transaction of $3,033,607.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anastasios Gianakakos sold 4,300 shares of MyoKardia stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the sale, the chief executive officer now owns 513,417 shares in the company, valued at $20,654,765.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,713,513 shares of company stock worth $72,678,568. 33.40% of the stock is owned by corporate insiders.
Shares of MyoKardia, Inc. (NASDAQ:MYOK) opened at $35.25 on Monday. MyoKardia, Inc. has a 1 year low of $10.55 and a 1 year high of $49.55.
MyoKardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) EPS for the quarter, hitting the consensus estimate of ($0.42). MyoKardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The business had revenue of $5.63 million for the quarter, compared to the consensus estimate of $6.10 million. During the same period last year, the company earned ($0.35) EPS. The firm’s revenue was up 58.6% compared to the same quarter last year. equities analysts predict that MyoKardia, Inc. will post -1.62 earnings per share for the current year.
MyoKardia, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
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