Fiduciary Trust Co. increased its stake in Myokardia Inc (NASDAQ:MYOK) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,147 shares of the biotechnology company’s stock after acquiring an additional 2,717 shares during the period. Fiduciary Trust Co.’s holdings in Myokardia were worth $1,894,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MYOK. Principal Financial Group Inc. lifted its stake in Myokardia by 10.7% in the first quarter. Principal Financial Group Inc. now owns 10,845 shares of the biotechnology company’s stock worth $529,000 after purchasing an additional 1,052 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Myokardia by 8.2% in the first quarter. New York State Common Retirement Fund now owns 25,163 shares of the biotechnology company’s stock worth $1,228,000 after purchasing an additional 1,900 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Myokardia by 27.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 8,840 shares of the biotechnology company’s stock worth $431,000 after purchasing an additional 1,906 shares during the last quarter. Northern Trust Corp lifted its stake in Myokardia by 0.9% in the first quarter. Northern Trust Corp now owns 241,175 shares of the biotechnology company’s stock worth $11,769,000 after purchasing an additional 2,037 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Myokardia by 6.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 55,298 shares of the biotechnology company’s stock worth $2,328,000 after purchasing an additional 3,292 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.
Myokardia opened at $58.35 on Friday, Marketbeat.com reports. Myokardia Inc has a fifty-two week low of $32.65 and a fifty-two week high of $63.00. The company has a market cap of $2.08 billion, a PE ratio of -41.68 and a beta of 3.50.
Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. Myokardia had a negative net margin of 235.47% and a negative return on equity of 25.18%. The firm had revenue of $6.64 million during the quarter, compared to the consensus estimate of $6.32 million. sell-side analysts expect that Myokardia Inc will post -2.06 EPS for the current fiscal year.
In related news, major shareholder Sanofi purchased 150,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was purchased at an average price of $49.00 per share, with a total value of $7,350,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $53.13, for a total transaction of $159,390.00. Following the sale, the insider now directly owns 77,949 shares of the company’s stock, valued at approximately $4,141,430.37. The disclosure for this sale can be found here. Insiders have sold 16,500 shares of company stock valued at $899,250 in the last ninety days. Insiders own 33.40% of the company’s stock.
MYOK has been the subject of several analyst reports. Wells Fargo & Co reissued an “outperform” rating and issued a $70.00 price objective on shares of Myokardia in a research note on Friday, April 13th. Zacks Investment Research raised shares of Myokardia from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Thursday, May 10th. BidaskClub downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Cowen reissued a “buy” rating and issued a $73.00 price objective on shares of Myokardia in a research note on Tuesday, May 22nd. Finally, ValuEngine raised shares of Myokardia from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.75.
Myokardia Company Profile
MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.
Featured Story: Are Wall Street analysts’ stock ratings worth following?
Want to see what other hedge funds are holding MYOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myokardia Inc (NASDAQ:MYOK).
Receive News & Ratings for Myokardia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myokardia and related companies with MarketBeat.com's FREE daily email newsletter.