Myokardia Inc (MYOK) Position Increased by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Myokardia Inc (NASDAQ:MYOK) by 56.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,228 shares of the biotechnology company’s stock after buying an additional 10,579 shares during the period. Rhumbline Advisers’ holdings in Myokardia were worth $1,451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Myokardia by 10.7% during the first quarter. Principal Financial Group Inc. now owns 10,845 shares of the biotechnology company’s stock worth $529,000 after buying an additional 1,052 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Myokardia by 8.2% during the first quarter. New York State Common Retirement Fund now owns 25,163 shares of the biotechnology company’s stock worth $1,228,000 after buying an additional 1,900 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Myokardia by 27.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,840 shares of the biotechnology company’s stock worth $431,000 after buying an additional 1,906 shares in the last quarter. Northern Trust Corp boosted its holdings in Myokardia by 0.9% during the first quarter. Northern Trust Corp now owns 241,175 shares of the biotechnology company’s stock worth $11,769,000 after buying an additional 2,037 shares in the last quarter. Finally, Fiduciary Trust Co. boosted its holdings in Myokardia by 7.7% during the second quarter. Fiduciary Trust Co. now owns 38,147 shares of the biotechnology company’s stock worth $1,894,000 after buying an additional 2,717 shares in the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $64.00 price target (down from $77.00) on shares of Myokardia in a report on Thursday, August 9th. ValuEngine raised shares of Myokardia from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. BidaskClub downgraded shares of Myokardia from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Myokardia from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.22.

NASDAQ:MYOK opened at $60.90 on Friday. Myokardia Inc has a fifty-two week low of $32.80 and a fifty-two week high of $66.55.

Myokardia (NASDAQ:MYOK) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.01. The company had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $6.32 million. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. research analysts expect that Myokardia Inc will post -2.07 earnings per share for the current fiscal year.

In other news, insider Jake Bauer sold 7,500 shares of the stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $56.88, for a total value of $426,600.00. Following the completion of the sale, the insider now directly owns 68,106 shares in the company, valued at $3,873,869.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anastasios Gianakakos sold 3,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $57.47, for a total transaction of $172,410.00. Following the completion of the sale, the insider now owns 77,949 shares of the company’s stock, valued at $4,479,729.03. The disclosure for this sale can be found here. Insiders have sold 61,500 shares of company stock valued at $3,615,240 over the last 90 days. 33.40% of the stock is currently owned by company insiders.

Myokardia Profile

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.

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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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