MyoKardia, Inc. (NASDAQ:MYOK) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other brokerages have also commented on MYOK. Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. TheStreet raised MyoKardia from a “d+” rating to a “c” rating in a research note on Thursday, July 6th. BidaskClub raised MyoKardia from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wells Fargo & Company reissued an “outperform” rating and set a $48.00 price target (up previously from $31.00) on shares of MyoKardia in a research note on Monday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $32.00 price target on shares of MyoKardia in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $35.00.

Shares of MyoKardia (NASDAQ MYOK) traded up 83.38% during trading on Monday, hitting $31.45. The company’s stock had a trading volume of 8,757,035 shares. The stock’s market cap is $989.26 million. MyoKardia has a one year low of $10.55 and a one year high of $32.30. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $13.13.

MyoKardia (NASDAQ:MYOK) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.04. The firm had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $6.73 million. MyoKardia had a negative return on equity of 15.27% and a negative net margin of 39.44%. MyoKardia’s revenue was up 60.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.37) EPS. Equities analysts predict that MyoKardia will post ($1.54) EPS for the current fiscal year.

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In related news, CEO Anastasios Gianakakos sold 4,300 shares of MyoKardia stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $16.62, for a total transaction of $71,466.00. Following the completion of the transaction, the chief executive officer now directly owns 512,463 shares in the company, valued at approximately $8,517,135.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 46.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of MyoKardia by 24.1% in the fourth quarter. State Street Corp now owns 178,189 shares of the biotechnology company’s stock valued at $2,307,000 after buying an additional 34,609 shares in the last quarter. Norges Bank bought a new position in shares of MyoKardia during the fourth quarter valued at about $869,000. Teachers Advisors LLC increased its position in shares of MyoKardia by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 28,145 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 8,342 shares in the last quarter. Daiwa SB Investments Ltd. bought a new position in shares of MyoKardia during the first quarter valued at about $170,000. Finally, Hamilton Lane Advisors LLC increased its position in shares of MyoKardia by 70.6% in the first quarter. Hamilton Lane Advisors LLC now owns 37,287 shares of the biotechnology company’s stock valued at $490,000 after buying an additional 15,433 shares in the last quarter. Hedge funds and other institutional investors own 47.74% of the company’s stock.

About MyoKardia

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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