Myokardia (MYOK) Sets New 1-Year Low at $39.01

Myokardia Inc (NASDAQ:MYOK)’s share price hit a new 52-week low on Wednesday . The company traded as low as $39.01 and last traded at $39.23, with a volume of 326352 shares changing hands. The stock had previously closed at $39.95.

A number of brokerages recently weighed in on MYOK. BidaskClub cut Myokardia from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine cut Myokardia from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Zacks Investment Research cut Myokardia from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Myokardia in a research note on Friday, November 9th. Finally, Citigroup decreased their price target on Myokardia from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Myokardia currently has a consensus rating of “Buy” and an average target price of $74.64.

The company has a market capitalization of $1.62 billion, a P/E ratio of -28.02 and a beta of 2.49.

In other news, insider June Lee sold 5,000 shares of Myokardia stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $60.81, for a total value of $304,050.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $55.68, for a total value of $167,040.00. Following the completion of the sale, the insider now owns 72,087 shares in the company, valued at $4,013,804.16. The disclosure for this sale can be found here. Insiders sold a total of 10,770 shares of company stock worth $593,275 over the last ninety days. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of MYOK. Advisor Group Inc. grew its position in shares of Myokardia by 172.0% in the 4th quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after buying an additional 325 shares during the last quarter. Bank of Montreal Can grew its position in shares of Myokardia by 71.2% in the 4th quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Group One Trading L.P. bought a new stake in shares of Myokardia in the 4th quarter worth approximately $31,000. Great West Life Assurance Co. Can grew its position in shares of Myokardia by 27.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock worth $197,000 after buying an additional 912 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Myokardia in the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 88.60% of the company’s stock.

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About Myokardia (NASDAQ:MYOK)

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.

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