Myokardia (MYOK) Stock Price Up 15.1%

Myokardia Inc (NASDAQ:MYOK) rose 15.1% on Wednesday . The stock traded as high as $48.00 and last traded at $47.55. Approximately 1,260,000 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 669,717 shares. The stock had previously closed at $41.30.

MYOK has been the subject of several research analyst reports. TheStreet downgraded shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. BidaskClub raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. 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 issued a $51.00 price target on shares of Myokardia in a research note on Wednesday, September 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $55.00 price target (up from $45.00) on shares of Myokardia in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Myokardia has an average rating of “Hold” and an average price target of $54.83.

The stock has a market cap of $1,730.00 and a P/E ratio of -65.47.

Myokardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) EPS for the quarter, hitting the consensus estimate of ($0.42). The company had revenue of $5.63 million during the quarter, compared to the consensus estimate of $6.10 million. Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. equities research analysts predict that Myokardia Inc will post -1.62 EPS for the current fiscal year.

In other news, insider Jake Bauer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anastasios Gianakakos sold 4,300 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $40.23, for a total transaction of $172,989.00. Following the sale, the chief executive officer now directly owns 513,417 shares of the company’s stock, valued at $20,654,765.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 836,626 shares of company stock valued at $35,146,501. 33.40% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Hershey Trust Co. boosted its holdings in Myokardia by 26.0% during the third quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 4,145 shares during the last quarter. EAM Investors LLC purchased a new position in Myokardia during the third quarter worth about $4,216,000. Northern Trust Corp boosted its holdings in Myokardia by 31.9% during the second quarter. Northern Trust Corp now owns 202,983 shares of the biotechnology company’s stock worth $2,658,000 after purchasing an additional 49,044 shares during the last quarter. Fernwood Investment Management LLC boosted its holdings in Myokardia by 409.1% during the third quarter. Fernwood Investment Management LLC now owns 246,382 shares of the biotechnology company’s stock worth $10,557,000 after purchasing an additional 197,989 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Myokardia by 25.7% during the second quarter. Swiss National Bank now owns 31,790 shares of the biotechnology company’s stock worth $416,000 after purchasing an additional 6,500 shares during the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

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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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