Insider Selling: Myokardia Inc (NASDAQ:MYOK) CFO Sells $115,201.35 in Stock

Myokardia Inc (NASDAQ:MYOK) CFO Taylor C. Harris sold 1,683 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $68.45, for a total value of $115,201.35. Following the completion of the transaction, the chief financial officer now owns 4,993 shares of the company’s stock, valued at approximately $341,770.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of MYOK opened at $69.93 on Friday. The stock has a 50-day moving average price of $68.22 and a 200-day moving average price of $57.48. Myokardia Inc has a 12-month low of $39.01 and a 12-month high of $74.98.

Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Monday, November 11th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.91) by $0.57. On average, equities analysts forecast that Myokardia Inc will post -5.03 earnings per share for the current year.

Several research analysts have commented on MYOK shares. Morgan Stanley raised their target price on Myokardia from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Guggenheim initiated coverage on Myokardia in a research report on Thursday, September 19th. They set a “buy” rating for the company. ValuEngine downgraded Myokardia from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Maxim Group reiterated an “average” rating on shares of Myokardia in a research report on Monday, October 28th. Finally, Citigroup lifted their price target on Myokardia from $70.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Myokardia presently has an average rating of “Buy” and an average price target of $80.25.

Institutional investors and hedge funds have recently modified their holdings of the company. Aperio Group LLC bought a new stake in shares of Myokardia during the 2nd quarter valued at about $92,000. United Services Automobile Association boosted its position in shares of Myokardia by 3.8% during the 2nd quarter. United Services Automobile Association now owns 49,800 shares of the biotechnology company’s stock valued at $2,497,000 after acquiring an additional 1,814 shares during the last quarter. Primecap Management Co. CA bought a new stake in Myokardia in the 2nd quarter worth approximately $13,523,000. California State Teachers Retirement System lifted its position in Myokardia by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 69,233 shares of the biotechnology company’s stock worth $3,611,000 after buying an additional 827 shares during the last quarter. Finally, Man Group plc bought a new stake in Myokardia in the 3rd quarter worth approximately $1,335,000.

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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