Wells Fargo & Company MN lessened its stake in shares of Myokardia Inc (NASDAQ:MYOK) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 355,813 shares of the biotechnology company’s stock after selling 61,626 shares during the quarter. Wells Fargo & Company MN owned about 1.00% of Myokardia worth $14,980,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Myokardia in the 4th quarter valued at $185,000. Quantbot Technologies LP purchased a new stake in Myokardia in the 3rd quarter valued at $202,000. Dimensional Fund Advisors LP purchased a new stake in Myokardia in the 3rd quarter valued at $212,000. Teacher Retirement System of Texas purchased a new stake in Myokardia in the 4th quarter valued at $298,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Myokardia during the 3rd quarter worth $355,000. Institutional investors and hedge funds own 83.49% of the company’s stock.
Shares of MYOK stock opened at $45.85 on Friday. The stock has a market cap of $1,742.30, a PE ratio of -32.75 and a beta of 3.64. Myokardia Inc has a 1-year low of $10.80 and a 1-year high of $62.83.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.20. The business had revenue of $5.60 million for the quarter, compared to analyst estimates of $5.63 million. Myokardia had a negative net margin of 204.48% and a negative return on equity of 24.58%. research analysts anticipate that Myokardia Inc will post -1.35 earnings per share for the current year.
In other news, insider Joseph Lambing sold 5,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the transaction, the insider now directly owns 95,846 shares in the company, valued at approximately $4,792,300. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anastasios Gianakakos sold 3,000 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $61.07, for a total transaction of $183,210.00. Following the transaction, the insider now owns 77,390 shares in the company, valued at $4,726,207.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,164 shares of company stock worth $1,263,566. Insiders own 33.40% of the company’s stock.
A number of brokerages have commented on MYOK. BidaskClub downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Zacks Investment Research raised shares of Myokardia from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, March 13th. BMO Capital Markets upped their price target on shares of Myokardia from $65.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, March 9th. ValuEngine raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Wedbush increased their price objective on shares of Myokardia from $51.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.43.
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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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