Myokardia (NASDAQ:MYOK) Trading 5.7% Higher

Shares of Myokardia Inc (NASDAQ:MYOK) traded up 5.7% during mid-day trading on Friday . The company traded as high as $61.36 and last traded at $61.28, 344,600 shares changed hands during trading. A decline of 19% from the average session volume of 425,158 shares. The stock had previously closed at $58.00.

A number of equities research analysts recently issued reports on the company. Cowen reissued a “buy” rating and set a $73.00 price target on shares of Myokardia in a research note on Monday, November 11th. Wedbush raised their price target on Myokardia from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Maxim Group reissued an “average” rating on shares of Myokardia in a research note on Monday, October 28th. ValuEngine raised Myokardia from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BidaskClub lowered Myokardia from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $77.33.

The stock has a 50-day simple moving average of $56.39 and a two-hundred day simple moving average of $52.53. The firm has a market capitalization of $2.60 billion, a P/E ratio of -34.82 and a beta of 2.06.

Myokardia (NASDAQ:MYOK) last issued its earnings results on Monday, November 11th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.91) by $0.57. Equities research analysts predict that Myokardia Inc will post -5.42 earnings per share for the current fiscal year.

In other Myokardia news, CEO Anastasios Gianakakos sold 4,000 shares of Myokardia stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.15, for a total transaction of $208,600.00. Following the completion of the sale, the chief executive officer now directly owns 104,570 shares of the company’s stock, valued at approximately $5,453,325.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jake Bauer sold 19,700 shares of Myokardia stock in a transaction on Friday, September 20th. The shares were sold at an average price of $60.09, for a total value of $1,183,773.00. Following the sale, the insider now directly owns 76,068 shares of the company’s stock, valued at $4,570,926.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,186 shares of company stock valued at $3,038,738. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MYOK. TD Asset Management Inc. increased its holdings in shares of Myokardia by 0.8% in the 2nd quarter. TD Asset Management Inc. now owns 63,582 shares of the biotechnology company’s stock valued at $3,188,000 after acquiring an additional 500 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Myokardia by 2.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,965 shares of the biotechnology company’s stock valued at $901,000 after acquiring an additional 510 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Myokardia by 20.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,382 shares of the biotechnology company’s stock valued at $176,000 after acquiring an additional 579 shares during the period. First Trust Advisors LP increased its holdings in shares of Myokardia by 4.4% in the 2nd quarter. First Trust Advisors LP now owns 15,116 shares of the biotechnology company’s stock valued at $758,000 after acquiring an additional 642 shares during the period. Finally, Quadrant Capital Group LLC purchased a new position in shares of Myokardia in the 3rd quarter valued at $33,000.

Myokardia Company Profile (NASDAQ:MYOK)

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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