June Lee Sells 4,565 Shares of Myokardia Inc (NASDAQ:MYOK) Stock

Myokardia Inc (NASDAQ:MYOK) EVP June Lee sold 4,565 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $57.00, for a total transaction of $260,205.00. Following the sale, the executive vice president now directly owns 9,144 shares of the company’s stock, valued at approximately $521,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MYOK traded down $0.42 on Monday, hitting $56.11. 485,400 shares of the stock traded hands, compared to its average volume of 475,790. The stock has a market cap of $2.59 billion, a P/E ratio of -31.88 and a beta of 2.06. The firm has a 50 day simple moving average of $51.75. Myokardia Inc has a one year low of $39.01 and a one year high of $67.79.

Myokardia (NASDAQ:MYOK) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.04). Myokardia had a negative return on equity of 22.02% and a negative net margin of 201.81%. Sell-side analysts predict that Myokardia Inc will post -4.18 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of MYOK. Advisor Group Inc. boosted its holdings in Myokardia by 172.0% in the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 325 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Myokardia by 309.1% in the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 408 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Myokardia in the first quarter worth approximately $68,000. Aperio Group LLC purchased a new stake in Myokardia in the second quarter worth approximately $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Myokardia by 39.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,803 shares of the biotechnology company’s stock worth $141,000 after purchasing an additional 791 shares during the last quarter. Institutional investors own 99.58% of the company’s stock.

MYOK has been the subject of several analyst reports. Cowen reissued a “buy” rating and set a $73.00 price target on shares of Myokardia in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Myokardia from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. ValuEngine raised shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Wedbush raised their price target on shares of Myokardia from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded shares of Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Myokardia currently has a consensus rating of “Buy” and a consensus price target of $76.89.

About Myokardia

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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