MyoKardia (MYOK) Rating Lowered to Sell at ValuEngine
MyoKardia (NASDAQ:MYOK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.
Several other research analysts have also recently issued reports on MYOK. BidaskClub upgraded shares of MyoKardia from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Wells Fargo & Company reiterated an “outperform” rating and set a $48.00 target price (up from $31.00) on shares of MyoKardia in a report on Monday, August 7th. Cowen increased their target price on shares of MyoKardia from $28.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. BMO Capital Markets reiterated a “buy” rating and set a $45.00 target price (up from $32.00) on shares of MyoKardia in a report on Tuesday, August 8th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $55.00 target price (up from $45.00) on shares of MyoKardia in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. MyoKardia has an average rating of “Buy” and a consensus price target of $55.00.
Shares of MyoKardia (MYOK) traded up $1.40 during trading on Friday, reaching $38.15. 281,653 shares of the company’s stock traded hands, compared to its average volume of 316,332. MyoKardia has a one year low of $10.55 and a one year high of $49.55.
In other news, Director Kevin P. Starr sold 601,400 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total value of $25,860,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Rock Ventures Ii L.P. Third sold 221,250 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $41.30, for a total transaction of $9,137,625.00. The disclosure for this sale can be found here. Insiders sold a total of 1,713,513 shares of company stock worth $72,678,568 over the last 90 days. Company insiders own 33.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $1,478,000. Cubist Systematic Strategies LLC bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $355,000. RTW Investments LP bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $10,882,000. VHCP Management II LLC bought a new stake in shares of MyoKardia in the 3rd quarter valued at about $11,355,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of MyoKardia in the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 63.50% of the company’s stock.
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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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