According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “
Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald restated a buy rating and issued a $27.00 price target on shares of Spero Therapeutics in a report on Thursday, May 9th. JPMorgan Chase & Co. set a $90.00 price target on Duke Energy and gave the stock a hold rating in a report on Monday, May 20th. BidaskClub downgraded Inovio Pharmaceuticals from a sell rating to a strong sell rating in a report on Saturday, June 1st. ValuEngine downgraded Zogenix from a strong-buy rating to a buy rating in a report on Thursday, April 11th. Finally, TheStreet upgraded TELUS from a c+ rating to a b- rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $75.75.
NASDAQ:MYOK traded up $0.06 during mid-day trading on Tuesday, hitting $53.61. The company had a trading volume of 6,244 shares, compared to its average volume of 325,860. Myokardia has a fifty-two week low of $39.01 and a fifty-two week high of $67.79. The company has a fifty day moving average price of $48.32. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -30.59 and a beta of 2.06.
Myokardia (NASDAQ:MYOK) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Myokardia had a negative return on equity of 19.98% and a negative net margin of 201.81%. Research analysts expect that Myokardia will post -3.75 EPS for the current year.
In related news, insider Anastasios Gianakakos sold 4,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $49.73, for a total transaction of $198,920.00. Following the completion of the transaction, the insider now directly owns 116,470 shares in the company, valued at $5,792,053.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of MYOK. Advisor Group Inc. grew its stake in Myokardia by 172.0% in the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 325 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Myokardia by 309.1% in the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 408 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Myokardia in the first quarter valued at approximately $68,000. Great West Life Assurance Co. Can grew its stake in Myokardia by 27.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock valued at $197,000 after purchasing an additional 912 shares in the last quarter. Finally, Amalgamated Bank bought a new position in Myokardia in the fourth quarter valued at approximately $245,000. Institutional investors and hedge funds own 99.64% 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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