Victory Capital Management Inc. increased its position in shares of Myokardia Inc (NASDAQ:MYOK) by 22.3% during the 4th quarter, Holdings Channel reports. The fund owned 47,715 shares of the biotechnology company’s stock after buying an additional 8,700 shares during the quarter. Victory Capital Management Inc.’s holdings in Myokardia were worth $2,009,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its stake in Myokardia by 36.3% during the 2nd quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 2,591 shares during the last quarter. Alliancebernstein L.P. bought a new position in Myokardia during the 2nd quarter worth approximately $148,000. SG Americas Securities LLC bought a new position in Myokardia during the 4th quarter worth approximately $185,000. The Manufacturers Life Insurance Company boosted its stake in Myokardia by 38.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,073 shares of the biotechnology company’s stock worth $198,000 after acquiring an additional 4,215 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Myokardia during the 3rd quarter worth approximately $202,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Myokardia Inc (NASDAQ MYOK) opened at $58.25 on Thursday. Myokardia Inc has a one year low of $10.80 and a one year high of $59.15. The firm has a market cap of $1,965.76, a P/E ratio of -76.64 and a beta of 4.00.
In other news, insider Anastasios Gianakakos sold 3,000 shares of Myokardia stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $41.09, for a total value of $123,270.00. Following the sale, the insider now directly owns 512,117 shares in the company, valued at $21,042,887.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jake Bauer sold 5,000 shares of Myokardia stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $42.89, for a total transaction of $214,450.00. Following the completion of the sale, the insider now owns 62,877 shares in the company, valued at $2,696,794.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 840,326 shares of company stock worth $35,376,662. Insiders own 33.40% of the company’s stock.
MYOK has been the topic of a number of research reports. BidaskClub raised shares of Myokardia from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. ValuEngine raised shares of Myokardia from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. initiated coverage on shares of Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price target on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Myokardia in a research note on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $55.67.
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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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