ValuEngine downgraded shares of Myokardia (NASDAQ:MYOK) from a buy rating to a hold rating in a report released on Friday morning.
Several other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Myokardia from a hold rating to a buy rating in a research report on Saturday, January 12th. Zacks Investment Research upgraded Myokardia from a hold rating to a buy rating and set a $63.00 price target on the stock in a research report on Thursday, November 15th. Citigroup decreased their price target on Myokardia from $90.00 to $70.00 and set a buy rating on the stock in a research report on Thursday, January 3rd. Credit Suisse Group decreased their price target on Myokardia from $73.00 to $71.00 and set an outperform rating on the stock in a research report on Friday, January 4th. Finally, Wedbush reiterated an outperform rating and set a $77.00 price target on shares of Myokardia in a research report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Myokardia has an average rating of Buy and an average price target of $74.64.
NASDAQ MYOK opened at $40.11 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -28.65 and a beta of 2.49. Myokardia has a 52 week low of $39.16 and a 52 week high of $67.79.
In related news, insider June Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $60.81, for a total value of $304,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anastasios Gianakakos sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $55.68, for a total transaction of $167,040.00. Following the completion of the transaction, the insider now owns 72,087 shares in the company, valued at $4,013,804.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,770 shares of company stock worth $593,275. 4.70% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Myokardia by 0.3% in the fourth quarter. BlackRock Inc. now owns 2,861,588 shares of the biotechnology company’s stock worth $139,816,000 after purchasing an additional 9,099 shares during the last quarter. 361 Capital LLC bought a new position in shares of Myokardia in the fourth quarter worth approximately $2,151,000. First Trust Advisors LP increased its position in shares of Myokardia by 35.5% in the fourth quarter. First Trust Advisors LP now owns 29,565 shares of the biotechnology company’s stock worth $1,445,000 after purchasing an additional 7,745 shares during the last quarter. Eaton Vance Management bought a new position in shares of Myokardia in the fourth quarter worth approximately $568,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Myokardia in the fourth quarter worth approximately $542,000. Institutional investors own 88.57% of the company’s stock.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.
Featured Story: Cost of Debt
To view ValuEngine’s full report, visit ValuEngine’s official website.