Myokardia Inc (NASDAQ:MYOK) insider June Lee sold 5,000 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $63.13, for a total value of $315,650.00. Following the sale, the insider now directly owns 5,426 shares of the company’s stock, valued at approximately $342,543.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NASDAQ MYOK traded up $1.80 on Monday, hitting $64.90. The company had a trading volume of 412,600 shares, compared to its average volume of 373,578. Myokardia Inc has a 12-month low of $32.80 and a 12-month high of $67.15. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -47.32 and a beta of 3.42.

Myokardia (NASDAQ:MYOK) last issued its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. Myokardia had a negative return on equity of 21.16% and a negative net margin of 249.22%. The company 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 -2.07 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of 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 buying an additional 1,052 shares during the period. Legal & General Group Plc boosted its position in shares of Myokardia by 36.0% in the second quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock worth $247,000 after buying an additional 1,312 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Myokardia by 92.7% in the second quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock worth $163,000 after buying an additional 1,576 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Myokardia by 35.3% in the second quarter. Teacher Retirement System of Texas now owns 6,409 shares of the biotechnology company’s stock worth $318,000 after buying an additional 1,673 shares during the period. Finally, RTW Investments LP boosted its position in shares of Myokardia by 0.7% in the second quarter. RTW Investments LP now owns 261,395 shares of the biotechnology company’s stock worth $12,978,000 after buying an additional 1,725 shares during the period. 87.95% of the stock is owned by institutional investors.

MYOK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Myokardia from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Bank of America initiated coverage on Myokardia in a research report on Tuesday, July 10th. They set a “buy” rating and a $71.00 price target for the company. Zacks Investment Research raised Myokardia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. BidaskClub raised Myokardia from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Finally, Wedbush reissued an “outperform” rating and set a $64.00 price target (down previously from $77.00) on shares of Myokardia in a research report on Thursday, August 9th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Myokardia presently has an average rating of “Buy” and a consensus price target of $71.22.

About Myokardia

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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