Kevin P. Starr Sells 75,313 Shares of MyoKardia, Inc. (MYOK) Stock
MyoKardia, Inc. (NASDAQ:MYOK) Director Kevin P. Starr sold 75,313 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $40.28, for a total value of $3,033,607.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
MyoKardia, Inc. (MYOK) traded up 0.12% during trading on Wednesday, hitting $41.20. 426,111 shares of the stock traded hands. The stock’s market cap is $1.30 billion. The company has a 50-day moving average price of $44.31 and a 200-day moving average price of $44.31. MyoKardia, Inc. has a 12 month low of $10.55 and a 12 month high of $49.55.
MyoKardia (NASDAQ:MYOK) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.04). The firm had revenue of $5.60 million during the quarter, compared to the consensus estimate of $6.73 million. MyoKardia had a negative return on equity of 16.35% and a negative net margin of 44.65%. The business’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) EPS. Equities research analysts expect that MyoKardia, Inc. will post ($1.63) EPS for the current year.
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Several hedge funds have recently bought and sold shares of MYOK. Wellington Management Group LLP lifted its holdings in shares of MyoKardia by 12.5% in the 1st quarter. Wellington Management Group LLP now owns 3,154,734 shares of the biotechnology company’s stock worth $41,485,000 after acquiring an additional 349,768 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MyoKardia by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 764,919 shares of the biotechnology company’s stock valued at $10,020,000 after purchasing an additional 78,800 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MyoKardia by 103.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 476,575 shares of the biotechnology company’s stock valued at $6,243,000 after purchasing an additional 242,408 shares in the last quarter. State Street Corp boosted its stake in shares of MyoKardia by 17.4% in the 2nd quarter. State Street Corp now owns 232,581 shares of the biotechnology company’s stock valued at $3,048,000 after purchasing an additional 34,533 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of MyoKardia by 31.9% in the 2nd quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock valued at $2,658,000 after purchasing an additional 49,044 shares in the last quarter. 42.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the company. TheStreet upgraded MyoKardia from a “d+” rating to a “c” rating in a research report on Thursday, July 6th. BidaskClub upgraded MyoKardia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Wells Fargo & Company reiterated an “outperform” rating and issued a $48.00 target price (up from $31.00) on shares of MyoKardia in a research report on Monday, August 7th. ValuEngine raised MyoKardia from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Cowen and Company lifted their price target on MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.33.
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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