Myokardia Inc (NASDAQ:MYOK) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Myokardia Inc (NASDAQ:MYOK) by 21.7% in the 1st quarter, HoldingsChannel reports. The firm owned 136,336 shares of the biotechnology company’s stock after acquiring an additional 24,341 shares during the quarter. JPMorgan Chase & Co.’s holdings in Myokardia were worth $7,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisor Group Inc. increased its stake in Myokardia by 172.0% in the fourth quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 325 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Myokardia by 309.1% during the first quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 408 shares in the last quarter. Bank of Montreal Can increased its position in shares of Myokardia by 71.2% during the fourth quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Group One Trading L.P. bought a new stake in shares of Myokardia during the fourth quarter worth about $31,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Myokardia by 27.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 912 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. TheStreet upgraded shares of Myokardia from a “d+” rating to a “c-” rating in a research note on Thursday, April 4th. Zacks Investment Research cut shares of Myokardia from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. BidaskClub upgraded shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. ValuEngine upgraded shares of Myokardia from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Finally, BMO Capital Markets assumed coverage on shares of Myokardia in a research note on Friday, February 22nd. They issued an “outperform” rating and a $85.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $75.33.

In other news, CFO Taylor C. Harris sold 1,324 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.30, for a total value of $70,569.20. Following the transaction, the chief financial officer now owns 3,750 shares of the company’s stock, valued at approximately $199,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.70% of the company’s stock.

NASDAQ MYOK opened at $46.90 on Thursday. Myokardia Inc has a 12-month low of $39.01 and a 12-month high of $67.79. The company has a market capitalization of $2.11 billion, a PE ratio of -26.65 and a beta of 2.21.

Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Myokardia had a negative net margin of 201.81% and a negative return on equity of 19.98%. On average, sell-side analysts expect that Myokardia Inc will post -3.5 EPS for the current year.

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Myokardia 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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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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