MyoKardia, Inc. (NASDAQ:MYOK) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued to investors on Friday, November 3rd.
Other equities analysts have also issued reports about the company. BidaskClub raised MyoKardia from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research lowered MyoKardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BMO Capital Markets reissued an “outperform” rating and issued a $65.00 price target (up from $45.00) on shares of MyoKardia in a research note on Monday, August 21st. Cowen and Company boosted their price target on MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $48.00 price target (up from $31.00) on shares of MyoKardia in a research note on Monday, August 7th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. MyoKardia currently has a consensus rating of “Buy” and an average price target of $55.00.
MyoKardia (NASDAQ MYOK) opened at $35.70 on Friday. MyoKardia has a 12-month low of $10.55 and a 12-month high of $49.55.
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In related news, Director Kevin P. Starr sold 75,313 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $40.28, for a total transaction of $3,033,607.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anastasios Gianakakos sold 4,300 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $43.02, for a total value of $184,986.00. Following the sale, the insider now directly owns 512,463 shares in the company, valued at approximately $22,046,158.26. The disclosure for this sale can be found here. Insiders have sold a total of 1,713,513 shares of company stock worth $72,678,568 in the last ninety days. Insiders own 33.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in MyoKardia in the 3rd quarter worth about $1,478,000. Cubist Systematic Strategies LLC bought a new position in MyoKardia in the 3rd quarter worth about $355,000. RTW Investments LP bought a new position in MyoKardia in the 3rd quarter worth about $10,882,000. VHCP Management II LLC bought a new position in MyoKardia in the 3rd quarter worth about $11,355,000. Finally, Dimensional Fund Advisors LP bought a new position in MyoKardia in the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 44.93% of the company’s stock.
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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