Myokardia Inc (NASDAQ:MYOK) insider June Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $63.13, for a total transaction of $315,650.00. Following the sale, the insider now directly owns 5,426 shares of the company’s stock, valued at approximately $342,543.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of NASDAQ:MYOK opened at $65.05 on Thursday. Myokardia Inc has a one year low of $32.80 and a one year high of $67.45.
Myokardia (NASDAQ:MYOK) last issued its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. The business had revenue of $6.64 million during the quarter, compared to the consensus estimate of $6.32 million. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. equities research analysts forecast that Myokardia Inc will post -2.07 EPS for the current fiscal year.
A number of brokerages have recently weighed in on MYOK. Credit Suisse Group upped their price target on shares of Myokardia from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Morgan Stanley began coverage on shares of Myokardia in a research note on Monday, September 10th. They issued an “overweight” rating and a $72.00 price objective for the company. BidaskClub raised shares of Myokardia from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Wedbush reissued an “outperform” rating and issued a $64.00 price objective (down previously from $77.00) on shares of Myokardia in a research note on Thursday, August 9th. Finally, Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $71.22.
A number of large investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Myokardia by 56.1% in the 2nd quarter. Northern Trust Corp now owns 376,539 shares of the biotechnology company’s stock valued at $18,695,000 after purchasing an additional 135,364 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Myokardia by 22.9% during the second quarter. Bank of New York Mellon Corp now owns 130,518 shares of the biotechnology company’s stock valued at $6,480,000 after acquiring an additional 24,290 shares during the last quarter. Casdin Capital LLC raised its stake in shares of Myokardia by 39.3% during the second quarter. Casdin Capital LLC now owns 780,000 shares of the biotechnology company’s stock valued at $38,727,000 after acquiring an additional 220,000 shares during the last quarter. Cowen Inc. raised its stake in shares of Myokardia by 565.1% during the second quarter. Cowen Inc. now owns 20,000 shares of the biotechnology company’s stock valued at $993,000 after acquiring an additional 24,300 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Myokardia by 60.8% during the second quarter. California Public Employees Retirement System now owns 7,969 shares of the biotechnology company’s stock valued at $396,000 after acquiring an additional 3,013 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.
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