United Services Automobile Association cut its stake in shares of MyoKardia, Inc. (NASDAQ:MYOK) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,265 shares of the biotechnology company’s stock after selling 2,385 shares during the period. United Services Automobile Association owned about 0.25% of MyoKardia worth $1,042,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in MyoKardia during the fourth quarter worth approximately $114,000. Aberdeen Asset Management PLC UK purchased a new stake in shares of MyoKardia during the fourth quarter worth about $144,000. A.R.T. Advisors LLC purchased a new stake in shares of MyoKardia during the fourth quarter worth about $148,000. Daiwa SB Investments Ltd. purchased a new stake in shares of MyoKardia during the first quarter worth about $170,000. Finally, Hershey Trust Co. boosted its stake 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 worth $209,000 after buying an additional 8,562 shares during the last quarter. 47.72% of the stock is owned by hedge funds and other institutional investors.
MyoKardia, Inc. (NASDAQ MYOK) traded down 2.16% during trading on Friday, reaching $13.60. The company’s stock had a trading volume of 205,053 shares. MyoKardia, Inc. has a 52-week low of $10.55 and a 52-week high of $22.83. The stock’s 50-day moving average is $13.57 and its 200 day moving average is $13.04. The firm’s market capitalization is $427.79 million.
MyoKardia (NASDAQ:MYOK) last released its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.01. The business had revenue of $5.60 million during the quarter, compared to analyst estimates of $7 million. MyoKardia had a negative net margin of 39.44% and a negative return on equity of 15.27%. The firm’s quarterly revenue was up 55.6% on a year-over-year basis. On average, analysts predict that MyoKardia, Inc. will post ($1.54) EPS for the current fiscal year.
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A number of analysts have recently issued reports on the company. TheStreet upgraded MyoKardia from a “d+” rating to a “c” rating in a report on Thursday, July 6th. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 target price 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $24.75.
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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