State Street Corp increased its holdings in shares of Myokardia Inc (NASDAQ:MYOK) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,581 shares of the biotechnology company’s stock after buying an additional 34,533 shares during the period. State Street Corp owned about 0.74% of Myokardia worth $3,048,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MYOK. JPMorgan Chase & Co. increased its stake in Myokardia by 103.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 476,575 shares of the biotechnology company’s stock worth $6,243,000 after buying an additional 242,408 shares during the period. OxFORD Asset Management LLP purchased a new stake in Myokardia during the 2nd quarter worth approximately $1,757,000. Vanguard Group Inc. increased its stake in Myokardia by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 764,919 shares of the biotechnology company’s stock worth $10,020,000 after buying an additional 78,800 shares during the period. TIAA CREF Investment Management LLC increased its stake in Myokardia by 196.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 102,283 shares of the biotechnology company’s stock worth $1,340,000 after buying an additional 67,827 shares during the period. Finally, Northern Trust Corp increased its stake in Myokardia by 31.9% during the 2nd quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock worth $2,658,000 after buying an additional 49,044 shares during the period. 63.61% of the stock is currently owned by hedge funds and other institutional investors.
In other Myokardia news, Director Kevin P. Starr sold 75,313 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $40.28, for a total transaction of $3,033,607.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anastasios Gianakakos sold 4,300 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $40.23, for a total transaction of $172,989.00. Following the completion of the transaction, the chief executive officer now owns 513,417 shares of the company’s stock, valued at approximately $20,654,765.91. The disclosure for this sale can be found here. Insiders have sold a total of 1,286,713 shares of company stock valued at $55,102,695 in the last quarter. 33.40% of the stock is currently owned by company insiders.
Myokardia Inc (NASDAQ:MYOK) opened at $39.25 on Monday. Myokardia Inc has a twelve month low of $10.55 and a twelve month high of $49.55.
Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) EPS for the quarter, hitting the consensus estimate of ($0.42). Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.10 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The firm’s revenue was up 58.6% on a year-over-year basis. analysts anticipate that Myokardia Inc will post -1.62 earnings per share for the current year.
MYOK has been the topic of several recent research reports. TheStreet downgraded shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Myokardia in a research note on Wednesday, September 20th. Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 target price (up from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 target price (up from $45.00) on shares of Myokardia in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.00.
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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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