Shares of MyoKardia Inc. (NASDAQ:MYOK) rose 4.7% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $16.82 and last traded at $16.74, with a volume of 262,253 shares. The stock had previously closed at $15.99.
Specifically, major shareholder Sanofi bought 450,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was purchased at an average price of $15.00 per share, for a total transaction of $6,750,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 46.10% of the company’s stock.
A number of analysts have commented on the company. Wedbush reiterated an “outperform” rating and issued a $22.00 price objective on shares of MyoKardia in a research report on Tuesday, August 9th. Zacks Investment Research downgraded MyoKardia from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. BMO Capital Markets started coverage on MyoKardia in a research report on Wednesday, July 20th. They set an “outperform” rating and a $28.00 target price for the company. Credit Suisse Group AG restated a “buy” rating and set a $20.00 target price (up previously from $16.00) on shares of MyoKardia in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of MyoKardia in a research report on Thursday, September 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. MyoKardia has an average rating of “Buy” and a consensus target price of $23.50.
The firm’s market capitalization is $450.42 million. The firm’s 50 day moving average price is $19.31 and its 200-day moving average price is $14.97.
MyoKardia (NASDAQ:MYOK) last posted its earnings results on Tuesday, August 9th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.33) by $0.04. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. The firm earned $3.55 million during the quarter, compared to analyst estimates of $3.55 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that MyoKardia Inc. will post ($1.49) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of MYOK. BlackRock Institutional Trust Company N.A. increased its position in MyoKardia by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 34,386 shares of the company’s stock valued at $368,000 after buying an additional 1,375 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in MyoKardia during the first quarter valued at $2,613,000. State Street Corp boosted its stake in MyoKardia by 31.9% in the first quarter. State Street Corp now owns 64,435 shares of the company’s stock valued at $690,000 after buying an additional 15,600 shares during the last quarter. Geode Capital Management LLC boosted its stake in MyoKardia by 19.8% in the first quarter. Geode Capital Management LLC now owns 63,701 shares of the company’s stock valued at $682,000 after buying an additional 10,527 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in MyoKardia by 8.6% in the first quarter. Wellington Management Group LLP now owns 1,593,487 shares of the company’s stock valued at $17,067,000 after buying an additional 126,398 shares during the last quarter. 36.67% of the stock is currently owned by institutional investors.
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 results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.
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