MyoKardia Inc. (NASDAQ:MYOK)’s share price fell 11.4% during mid-day trading on Monday . The stock traded as low as $18.51 and last traded at $18.51, with a volume of 140,003 shares trading hands. The stock had previously closed at $20.88.
Several equities analysts have recently weighed in on MYOK shares. Wells Fargo & Co. reiterated a “buy” rating on shares of MyoKardia in a research note on Sunday, September 11th. Zacks Investment Research upgraded shares of MyoKardia from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Wedbush reiterated an “outperform” rating and issued a $22.00 price objective on shares of MyoKardia in a research note on Tuesday, August 9th. BMO Capital Markets started coverage on shares of MyoKardia in a research note on Wednesday, July 20th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of MyoKardia in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $23.50.
The stock’s market capitalization is $510.68 million. The stock has a 50 day moving average of $19.60 and a 200-day moving average of $13.94.
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MyoKardia (NASDAQ:MYOK) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.04. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. The company earned $3.55 million during the quarter, compared to analyst estimates of $3.55 million. MyoKardia’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that MyoKardia Inc. will post ($1.50) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC bought a new position in shares of MyoKardia during the second quarter worth about $150,000. Teachers Advisors Inc. increased its position in shares of MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock worth $226,000 after buying an additional 11,845 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of MyoKardia by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 21,503 shares of the company’s stock worth $267,000 after buying an additional 9,861 shares during the last quarter. California State Teachers Retirement System increased its position in shares of MyoKardia by 75.4% in the second quarter. California State Teachers Retirement System now owns 23,599 shares of the company’s stock worth $293,000 after buying an additional 10,148 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of MyoKardia by 46.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,658 shares of the company’s stock worth $356,000 after buying an additional 9,152 shares during the last quarter. 36.67% of the stock is owned by institutional investors.
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 results from biomechanical defects in cardiac muscle contraction. It is engaged in the business of developing and commercializing therapeutics.
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