Dimensional Fund Advisors LP purchased a new position in Myokardia Inc (NASDAQ:MYOK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,952 shares of the biotechnology company’s stock, valued at approximately $212,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MYOK. Schwab Charles Investment Management Inc. boosted its holdings in Myokardia by 31.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,546 shares of the biotechnology company’s stock worth $754,000 after acquiring an additional 13,866 shares during the period. Bank of New York Mellon Corp raised its position in shares of Myokardia by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 63,208 shares of the biotechnology company’s stock valued at $828,000 after acquiring an additional 6,603 shares in the last quarter. Swiss National Bank raised its position in shares of Myokardia by 25.7% during the 2nd quarter. Swiss National Bank now owns 31,790 shares of the biotechnology company’s stock valued at $416,000 after acquiring an additional 6,500 shares in the last quarter. Wells Fargo & Company MN increased its position in Myokardia by 2.5% in the second quarter. Wells Fargo & Company MN now owns 18,539 shares of the biotechnology company’s stock worth $243,000 after buying an additional 455 shares during the period. Finally, Alliancebernstein L.P. acquired a new stake in Myokardia in the second quarter worth $148,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.
In related news, insider Joseph Lambing sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now owns 95,846 shares of the company’s stock, valued at $4,792,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $41.09, for a total value of $123,270.00. Following the transaction, the insider now directly owns 512,117 shares of the company’s stock, valued at approximately $21,042,887.53. The disclosure for this sale can be found here. Insiders have sold 840,326 shares of company stock worth $35,376,662 over the last three months. Corporate insiders own 33.40% of the company’s stock.
Several brokerages have weighed in on MYOK. BidaskClub raised Myokardia from a “hold” rating to a “buy” rating in a research report on Saturday. ValuEngine raised Myokardia from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Myokardia in a research report on Thursday, January 18th. Zacks Investment Research lowered Myokardia from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. initiated coverage on Myokardia in a report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.67.
Shares of Myokardia Inc (NASDAQ:MYOK) traded up $1.90 on Tuesday, hitting $56.30. The stock had a trading volume of 235,200 shares, compared to its average volume of 398,976. The firm has a market capitalization of $2,012.22, a price-to-earnings ratio of -74.08 and a beta of 4.00. Myokardia Inc has a 52 week low of $10.80 and a 52 week high of $57.55.
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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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