Myokardia (NASDAQ:MYOK) had its price objective upped by Wedbush from $51.00 to $69.00 in a report issued on Friday morning, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock. Wedbush also issued estimates for Myokardia’s FY2022 earnings at $11.57 EPS.
A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Myokardia from a buy rating to a hold rating in a research note on Friday. ValuEngine upgraded Myokardia from a sell rating to a hold rating in a research note on Friday, February 2nd. Credit Suisse Group restated an outperform rating and set a $60.00 price target on shares of Myokardia in a research note on Thursday, January 18th. Zacks Investment Research downgraded Myokardia from a hold rating to a sell rating in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. began coverage on Myokardia in a research note on Tuesday, December 12th. They set an overweight rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $63.00.
Shares of Myokardia (MYOK) opened at $51.00 on Friday. The stock has a market capitalization of $1,905.75, a PE ratio of -36.17 and a beta of 3.35. Myokardia has a 52 week low of $10.80 and a 52 week high of $62.83.
In related news, Director Kevin P. Starr sold 816,326 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $42.00, for a total transaction of $34,285,692.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Lambing sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the insider now owns 95,846 shares of the company’s stock, valued at $4,792,300. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 848,326 shares of company stock valued at $35,859,872. 33.40% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB grew its stake in shares of Myokardia by 86.7% during the 4th quarter. Handelsbanken Fonder AB now owns 28,000 shares of the biotechnology company’s stock valued at $1,179,000 after acquiring an additional 13,000 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Myokardia during the 4th quarter valued at approximately $384,000. Iguana Healthcare Management LLC bought a new position in shares of Myokardia during the 4th quarter valued at approximately $2,105,000. Jane Street Group LLC bought a new position in shares of Myokardia during the 4th quarter valued at approximately $213,000. Finally, Millennium Management LLC bought a new position in shares of Myokardia during the 4th quarter valued at approximately $20,661,000. Institutional investors own 83.91% of the company’s stock.
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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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