Sanofi Acquires 450,000 Shares of MyoKardia Inc. (MYOK) Stock
MyoKardia Inc. (NASDAQ:MYOK) major shareholder Sanofi acquired 450,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $6,750,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of MyoKardia Inc. (NASDAQ:MYOK) traded up 0.63% during midday trading on Wednesday, hitting $16.09. The company’s stock had a trading volume of 15,493 shares. The firm has a 50-day moving average of $19.38 and a 200 day moving average of $14.96. MyoKardia Inc. has a 12-month low of $6.24 and a 12-month high of $22.83. The firm’s market cap is $434.75 million.
MyoKardia (NASDAQ:MYOK) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The company had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $3.55 million. MyoKardia had a negative net margin of 222.21% and a negative return on equity of 62.91%. The firm’s revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that MyoKardia Inc. will post ($1.49) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC bought a new stake in MyoKardia during the second quarter valued at approximately $150,000. Teachers Advisors Inc. boosted its position in MyoKardia by 185.7% in the second quarter. Teachers Advisors Inc. now owns 18,223 shares of the company’s stock valued at $226,000 after buying an additional 11,845 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MyoKardia by 84.7% in the second quarter. Bank of New York Mellon Corp now owns 21,503 shares of the company’s stock valued at $267,000 after buying an additional 9,861 shares during the last quarter. California State Teachers Retirement System boosted its position in MyoKardia by 75.4% in the second quarter. California State Teachers Retirement System now owns 23,599 shares of the company’s stock valued at $293,000 after buying an additional 10,148 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in MyoKardia by 46.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,658 shares of the company’s stock valued at $356,000 after buying an additional 9,152 shares during the last quarter. 36.67% of the stock is owned by hedge funds and other institutional investors.
MYOK has been the topic of several research analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of MyoKardia in a research report on Tuesday, July 12th. Wells Fargo & Co. reiterated a “buy” rating on shares of MyoKardia in a report on Thursday, September 22nd. Zacks Investment Research upgraded MyoKardia from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Wedbush reiterated an “outperform” rating and issued a $22.00 target price (down from $24.00) on shares of MyoKardia in a report on Wednesday, September 28th. Finally, BMO Capital Markets assumed coverage on MyoKardia in a report on Wednesday, July 20th. They issued an “outperform” rating and a $28.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.50.
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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