Other analysts also recently issued research reports about the stock. BMO Capital Markets upped their price target on shares of Myokardia to $90.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. BidaskClub downgraded shares of Myokardia from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $90.00 price target on shares of Myokardia in a report on Monday, March 4th. Zacks Investment Research downgraded shares of Myokardia from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Credit Suisse Group reduced their price objective on shares of Myokardia from $73.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, January 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $75.80.
Shares of Myokardia stock traded up $1.92 on Thursday, reaching $49.32. 556,797 shares of the stock were exchanged, compared to its average volume of 564,648. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -28.02 and a beta of 2.33. Myokardia has a 1-year low of $39.01 and a 1-year high of $67.79.
In other news, major shareholder Sanofi sold 4,168,899 shares of the stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $37.66, for a total value of $157,000,736.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Taylor C. Harris sold 1,324 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.30, for a total transaction of $70,569.20. Following the completion of the sale, the chief financial officer now directly owns 3,750 shares of the company’s stock, valued at approximately $199,875. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in MYOK. Hillhouse Capital Advisors Ltd. purchased a new position in shares of Myokardia in the fourth quarter valued at $41,938,000. Vanguard Group Inc boosted its stake in shares of Myokardia by 32.8% in the third quarter. Vanguard Group Inc now owns 2,995,821 shares of the biotechnology company’s stock valued at $195,328,000 after purchasing an additional 740,607 shares during the period. Vanguard Group Inc. boosted its stake in shares of Myokardia by 32.8% in the third quarter. Vanguard Group Inc. now owns 2,995,821 shares of the biotechnology company’s stock valued at $195,328,000 after purchasing an additional 740,607 shares during the period. BB Biotech AG boosted its stake in shares of Myokardia by 72.0% in the fourth quarter. BB Biotech AG now owns 877,266 shares of the biotechnology company’s stock valued at $42,863,000 after purchasing an additional 367,266 shares during the period. Finally, Orbimed Advisors LLC bought a new position in Myokardia during the 4th quarter valued at $16,373,000. Institutional investors and hedge funds own 90.90% of the company’s stock.
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.
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