Myokardia (MYOK) Lifted to Hold at BidaskClub
Myokardia (NASDAQ:MYOK) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.
Several other research analysts also recently issued reports on MYOK. ValuEngine downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a report on Friday, December 1st. J P Morgan Chase & Co initiated coverage on Myokardia in a report on Tuesday. They issued an “overweight” rating and a $54.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $51.00 price objective on shares of Myokardia in a report on Wednesday, September 20th. BMO Capital Markets restated an “outperform” rating and issued a $65.00 price objective (up from $45.00) on shares of Myokardia in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Myokardia presently has an average rating of “Buy” and a consensus price target of $54.83.
Shares of Myokardia (NASDAQ MYOK) traded down $2.10 during trading hours on Tuesday, hitting $37.30. 312,338 shares of the stock traded hands, compared to its average volume of 322,188. Myokardia has a 52 week low of $10.55 and a 52 week high of $49.55.
In related news, Director Kevin P. Starr sold 601,400 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $43.00, for a total value of $25,860,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Rock Ventures Ii L.P. Third sold 400,000 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $43.00, for a total value of $17,200,000.00. The disclosure for this sale can be found here. Insiders sold 1,286,713 shares of company stock valued at $55,102,695 over the last 90 days. 33.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in Myokardia during the third quarter valued at $202,000. Dimensional Fund Advisors LP bought a new stake in Myokardia during the third quarter valued at $212,000. Cubist Systematic Strategies LLC bought a new stake in Myokardia during the third quarter valued at $355,000. TD Asset Management Inc. bought a new stake in Myokardia during the third quarter valued at $364,000. Finally, Nationwide Fund Advisors boosted its position in Myokardia by 36.3% during the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 2,591 shares during the last quarter. 63.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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