California State Teachers Retirement System increased its position in shares of MyoKardia Inc. (NASDAQ:MYOK) by 75.4% during the second quarter, Holdings Channel reports. The institutional investor owned 23,599 shares of the company’s stock after buying an additional 10,148 shares during the period. California State Teachers Retirement System owned about 0.09% of MyoKardia worth $293,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of MyoKardia by 8.6% in the first quarter. Wellington Management Group LLP now owns 1,593,487 shares of the company’s stock worth $17,067,000 after buying an additional 126,398 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in MyoKardia during the first quarter valued at $2,613,000. State Street Corp raised its position 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 period. Geode Capital Management LLC raised its position 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 period. Finally, Bank of New York Mellon Corp raised its position in MyoKardia by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 21,503 shares of the company’s stock valued at $267,000 after buying an additional 9,861 shares during the period. Hedge funds and other institutional investors own 32.16% of the company’s stock.
Shares of MyoKardia Inc. (NASDAQ:MYOK) remained flat at $15.85 on Tuesday. The stock had a trading volume of 22,001 shares. MyoKardia Inc. has a 12 month low of $6.24 and a 12 month high of $22.83. The stock has a 50-day moving average price of $18.33 and a 200-day moving average price of $15.34. The firm’s market cap is $428.27 million.
MyoKardia (NASDAQ:MYOK) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. The company had revenue of $3.55 million for the quarter, compared to the consensus estimate of $3.55 million. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. MyoKardia’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that MyoKardia Inc. will post ($1.49) earnings per share for the current year.
Several equities analysts have recently weighed in on MYOK shares. Wells Fargo & Co. restated a “buy” rating on shares of MyoKardia in a research report on Thursday, September 22nd. Wedbush restated an “outperform” rating and set a $22.00 price objective (down previously from $24.00) on shares of MyoKardia in a research report on Wednesday, September 28th. Credit Suisse Group AG restated a “buy” rating and set a $20.00 price objective (up previously from $16.00) on shares of MyoKardia in a research report on Tuesday, July 12th. BMO Capital Markets started coverage on shares of MyoKardia in a research report on Wednesday, July 20th. They set an “outperform” rating and a $28.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of MyoKardia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $23.50.
In other MyoKardia news, major shareholder Sanofi purchased 450,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was acquired at an average cost of $15.00 per share, with a total value of $6,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 46.10% of the stock is owned by corporate insiders.
MyoKardia Company Profile
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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