Bank of New York Mellon Corp increased its stake in shares of MyoKardia, Inc. (NASDAQ:MYOK) by 17.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 56,605 shares of the biotechnology company’s stock after buying an additional 8,469 shares during the period. Bank of New York Mellon Corp owned about 0.18% of MyoKardia worth $744,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Daiwa SB Investments Ltd. bought a new position in shares of MyoKardia during the first quarter valued at $170,000. Hershey Trust Co. boosted its position in shares of MyoKardia by 116.4% in the first quarter. Hershey Trust Co. now owns 15,919 shares of the biotechnology company’s stock valued at $209,000 after buying an additional 8,562 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of MyoKardia by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 28,145 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 8,342 shares in the last quarter. Hamilton Lane Advisors LLC boosted its position in shares of MyoKardia by 70.6% in the first quarter. Hamilton Lane Advisors LLC now owns 37,287 shares of the biotechnology company’s stock valued at $490,000 after buying an additional 15,433 shares in the last quarter. Finally, Norges Bank bought a new position in shares of MyoKardia during the fourth quarter valued at $869,000. 47.72% of the stock is owned by hedge funds and other institutional investors.
MyoKardia, Inc. (MYOK) opened at 15.85 on Wednesday. The stock’s 50 day moving average price is $14.02 and its 200-day moving average price is $13.13. The firm’s market cap is $498.56 million. MyoKardia, Inc. has a 12-month low of $10.55 and a 12-month high of $22.83.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.01. MyoKardia had a negative return on equity of 15.27% and a negative net margin of 39.44%. The company had revenue of $5.60 million during the quarter, compared to the consensus estimate of $7 million. The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. Equities research analysts anticipate that MyoKardia, Inc. will post ($1.54) earnings per share for the current fiscal year.
Several brokerages have weighed in on MYOK. TheStreet cut MyoKardia from a “c-” rating to a “d+” rating in a report on Friday, May 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of MyoKardia in a report on Wednesday, May 10th. Finally, Zacks Investment Research cut MyoKardia from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. MyoKardia presently has a consensus rating of “Buy” and an average price target of $24.75.
In related news, insider Anastasios Gianakakos sold 32,988 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $15.00, for a total value of $494,820.00. Following the sale, the insider now owns 541,151 shares in the company, valued at $8,117,265. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.10% of the stock is owned by company insiders.
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 result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.
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