Myokardia Inc (MYOK) Holdings Cut by Strs Ohio

Strs Ohio trimmed its stake in shares of Myokardia Inc (NASDAQ:MYOK) by 18.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,500 shares of the biotechnology company’s stock after selling 4,100 shares during the quarter. Strs Ohio’s holdings in Myokardia were worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Myokardia by 11.2% in the second quarter. FMR LLC now owns 5,990,112 shares of the biotechnology company’s stock worth $297,409,000 after buying an additional 601,567 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Myokardia by 45.6% in the second quarter. BlackRock Inc. now owns 2,627,459 shares of the biotechnology company’s stock worth $130,454,000 after buying an additional 822,404 shares in the last quarter. Partner Fund Management L.P. lifted its stake in shares of Myokardia by 91.5% in the second quarter. Partner Fund Management L.P. now owns 1,819,315 shares of the biotechnology company’s stock worth $90,329,000 after buying an additional 869,404 shares in the last quarter. Hillhouse Capital Management Ltd. lifted its stake in shares of Myokardia by 13.2% in the second quarter. Hillhouse Capital Management Ltd. now owns 858,340 shares of the biotechnology company’s stock worth $42,617,000 after buying an additional 100,000 shares in the last quarter. Finally, Casdin Capital LLC lifted its stake in shares of Myokardia by 39.3% in the second quarter. Casdin Capital LLC now owns 780,000 shares of the biotechnology company’s stock worth $38,727,000 after buying an additional 220,000 shares in the last quarter. 87.79% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Anastasios Gianakakos sold 3,000 shares of the firm’s 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 directly owns 77,949 shares in the company, valued at $4,479,729.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc Semigran sold 45,000 shares of Myokardia stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $59.53, for a total transaction of $2,678,850.00. Following the sale, the insider now owns 41,400 shares of the company’s stock, valued at $2,464,542. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,000 shares of company stock valued at $3,519,470. 33.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on MYOK. Cantor Fitzgerald began coverage on shares of Myokardia in a research note on Monday, October 1st. They issued an “overweight” rating and a $90.00 price target on the stock. BidaskClub raised shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 27th. Citigroup began coverage on shares of Myokardia in a research note on Friday, September 28th. They issued a “buy” rating and a $90.00 price target on the stock. Credit Suisse Group raised their price target on shares of Myokardia from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, Morgan Stanley began coverage on shares of Myokardia in a research note on Monday, September 10th. They issued an “overweight” rating and a $72.00 price target on the stock. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $74.64.

Myokardia stock opened at $57.60 on Friday. Myokardia Inc has a 12-month low of $32.80 and a 12-month high of $67.79.

Myokardia (NASDAQ:MYOK) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. The firm had revenue of $6.64 million during the quarter, compared to analysts’ expectations of $6.32 million. As a group, equities research analysts expect that Myokardia Inc will post -2.03 earnings per share for the current fiscal year.

About Myokardia

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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