Amalgamated Bank bought a new stake in Myokardia Inc (NASDAQ:MYOK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,015 shares of the biotechnology company’s stock, valued at approximately $245,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. acquired a new position in shares of Myokardia during the 3rd quarter worth $205,000. Bank of New York Mellon Corp raised its holdings in shares of Myokardia by 17.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 153,334 shares of the biotechnology company’s stock worth $9,997,000 after buying an additional 22,816 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Myokardia by 8.6% during the 3rd quarter. BlackRock Inc. now owns 2,852,489 shares of the biotechnology company’s stock worth $185,983,000 after buying an additional 225,030 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Myokardia during the 3rd quarter worth $292,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of Myokardia during the 3rd quarter worth $352,000. Institutional investors and hedge funds own 90.88% of the company’s stock.
In other Myokardia news, major shareholder Sanofi sold 4,168,899 shares of the company’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $37.66, for a total value of $157,000,736.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Taylor C. Harris sold 1,324 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.30, for a total value of $70,569.20. Following the completion of the sale, the chief financial officer now owns 3,750 shares in the company, valued at approximately $199,875. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
MYOK has been the subject of a number of research analyst reports. BidaskClub cut Myokardia from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. ValuEngine cut Myokardia from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 15th. BMO Capital Markets assumed coverage on Myokardia in a report on Friday, February 22nd. They issued an “outperform” rating and a $85.00 target price for the company. TheStreet raised Myokardia from a “d+” rating to a “c-” rating in a report on Thursday, April 4th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $90.00 target price on shares of Myokardia in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $75.80.
Shares of MYOK opened at $50.02 on Tuesday. Myokardia Inc has a 12-month low of $39.01 and a 12-month high of $67.79. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -28.42 and a beta of 2.48.
Myokardia (NASDAQ:MYOK) last issued its earnings results on Thursday, February 28th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.07. Myokardia had a negative return on equity of 20.00% and a negative net margin of 201.81%. The business had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $8.57 million. Equities analysts forecast that Myokardia Inc will post -3.16 earnings per share for the current year.
Myokardia Company Profile
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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