WINTON GROUP Ltd purchased a new stake in Myokardia Inc (NASDAQ:MYOK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,943 shares of the biotechnology company’s stock, valued at approximately $680,000.
A number of other institutional investors have also added to or reduced their stakes in MYOK. SG Americas Securities LLC purchased a new stake in Myokardia in the fourth quarter valued at about $185,000. Jane Street Group LLC purchased a new stake in Myokardia in the fourth quarter valued at about $213,000. California Public Employees Retirement System purchased a new stake in Myokardia in the first quarter valued at about $242,000. GSA Capital Partners LLP purchased a new stake in Myokardia in the first quarter valued at about $288,000. Finally, Paloma Partners Management Co purchased a new stake in Myokardia in the fourth quarter valued at about $294,000. Institutional investors own 84.02% of the company’s stock.
MYOK has been the subject of a number of research analyst reports. BidaskClub cut Myokardia from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Wedbush increased their price target on Myokardia from $51.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. Credit Suisse Group increased their price target on Myokardia from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. BMO Capital Markets increased their price target on Myokardia from $65.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. Finally, Cowen reiterated a “buy” rating and issued a $56.00 price target on shares of Myokardia in a research note on Friday, March 9th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Myokardia currently has an average rating of “Buy” and an average price target of $67.29.
In related news, insider Jake Bauer sold 1,519 shares of the firm’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $48.95, for a total transaction of $74,355.05. Following the sale, the insider now directly owns 62,125 shares of the company’s stock, valued at $3,041,018.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $47.57, for a total value of $142,710.00. Following the sale, the chief executive officer now directly owns 74,968 shares in the company, valued at $3,566,227.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,519 shares of company stock valued at $751,765. Company insiders own 4.70% of the company’s stock.
Shares of Myokardia opened at $52.25 on Tuesday, Marketbeat.com reports. Myokardia Inc has a 52-week low of $12.85 and a 52-week high of $62.83.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.21). Myokardia had a negative return on equity of 25.18% and a negative net margin of 235.47%. The firm had revenue of $5.33 million during the quarter, compared to analysts’ expectations of $7.82 million. equities research analysts anticipate that Myokardia Inc will post -2.07 EPS for the current fiscal year.
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.
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