Zacks Investment Research downgraded shares of Myokardia (NASDAQ:MYOK) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California. “

Other analysts also recently issued reports about the company. ValuEngine downgraded Zogenix from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. TheStreet upgraded TELUS from a c+ rating to a b- rating in a research note on Thursday, April 4th. Cantor Fitzgerald restated a buy rating and set a $27.00 target price on shares of Spero Therapeutics in a research note on Thursday, May 9th. BidaskClub downgraded Inovio Pharmaceuticals from a sell rating to a strong sell rating in a research note on Saturday, June 1st. Finally, JPMorgan Chase & Co. set a $90.00 target price on Duke Energy and gave the company a hold rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $75.88.

Shares of Myokardia stock traded up $0.20 during trading hours on Wednesday, hitting $50.20. 245,395 shares of the company’s stock traded hands, compared to its average volume of 509,297. The stock has a 50 day moving average of $48.18. The stock has a market cap of $2.32 billion, a P/E ratio of -28.52 and a beta of 2.07. Myokardia has a twelve month low of $39.01 and a twelve month high of $67.79.

Myokardia (NASDAQ:MYOK) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Myokardia had a negative net margin of 201.81% and a negative return on equity of 19.98%. As a group, research analysts predict that Myokardia will post -3.75 EPS for the current fiscal year.

In related news, insider Anastasios Gianakakos sold 4,000 shares of Myokardia stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $49.73, for a total value of $198,920.00. Following the completion of the transaction, the insider now directly owns 116,470 shares in the company, valued at $5,792,053.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. GAM Holding AG acquired a new position in Myokardia in the first quarter worth about $2,128,000. Great West Life Assurance Co. Can boosted its stake in Myokardia by 27.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock valued at $197,000 after acquiring an additional 912 shares during the period. Hillhouse Capital Advisors Ltd. acquired a new position in Myokardia in the fourth quarter valued at approximately $41,938,000. DekaBank Deutsche Girozentrale boosted its stake in Myokardia by 22.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,600 shares of the biotechnology company’s stock valued at $753,000 after acquiring an additional 2,350 shares during the period. Finally, Samlyn Capital LLC boosted its stake in Myokardia by 180.5% in the fourth quarter. Samlyn Capital LLC now owns 283,908 shares of the biotechnology company’s stock valued at $13,872,000 after acquiring an additional 182,681 shares during the period. Institutional investors and hedge funds own 99.66% of the company’s stock.

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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