MyoKardia Inc. (NASDAQ:MYOK) major shareholder Sanofi bought 450,000 shares of the stock in a transaction on Monday, October 3rd. The shares were bought at an average price of $15.00 per share, for a total transaction of $6,750,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of MyoKardia Inc. (NASDAQ:MYOK) traded up 0.63% on Wednesday, hitting $16.09. The company had a trading volume of 15,493 shares. MyoKardia Inc. has a 12-month low of $6.24 and a 12-month high of $22.83. The company’s market cap is $434.75 million. The company has a 50 day moving average of $19.38 and a 200-day moving average of $14.96.
MyoKardia (NASDAQ:MYOK) last announced its earnings results on Tuesday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. MyoKardia had a negative return on equity of 62.91% and a negative net margin of 222.21%. The company had revenue of $3.55 million for the quarter, compared to analyst estimates of $3.55 million. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts forecast that MyoKardia Inc. will post ($1.49) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in MYOK. Spark Investment Management LLC bought a new position in shares of MyoKardia during the second quarter worth about $150,000. Teachers Advisors Inc. raised its position in shares of MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock worth $226,000 after buying an additional 11,845 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of MyoKardia by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 21,503 shares of the company’s stock worth $267,000 after buying an additional 9,861 shares during the last quarter. California State Teachers Retirement System raised its position in shares of MyoKardia by 75.4% in the second quarter. California State Teachers Retirement System now owns 23,599 shares of the company’s stock worth $293,000 after buying an additional 10,148 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of MyoKardia by 46.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,658 shares of the company’s stock worth $356,000 after buying an additional 9,152 shares during the last quarter. Institutional investors own 36.67% of the company’s stock.
MYOK has been the topic of a number of recent analyst reports. Credit Suisse Group AG reissued a “buy” rating and set a $20.00 price target (up previously from $16.00) on shares of MyoKardia in a research note on Tuesday, July 12th. Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. BMO Capital Markets initiated coverage on MyoKardia in a research note on Wednesday, July 20th. They set an “outperform” rating and a $28.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of MyoKardia in a research note on Tuesday, August 9th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of MyoKardia in a research note on Sunday, September 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $23.50.
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 results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.
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