Bank of Montreal Can Buys 27,529 Shares of Myokardia Inc (MYOK)

Bank of Montreal Can boosted its stake in shares of Myokardia Inc (NASDAQ:MYOK) by 4,978.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,082 shares of the biotechnology company’s stock after acquiring an additional 27,529 shares during the quarter. Bank of Montreal Can’s holdings in Myokardia were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MYOK. Advisor Group Inc. lifted its position in Myokardia by 172.0% during the 4th quarter. Advisor Group Inc. now owns 514 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 325 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Myokardia by 309.1% in the 1st quarter. Meeder Asset Management Inc. now owns 540 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 408 shares during the period. Group One Trading L.P. acquired a new stake in shares of Myokardia in the 4th quarter valued at approximately $31,000. Great West Life Assurance Co. Can lifted its holdings in shares of Myokardia by 27.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,188 shares of the biotechnology company’s stock valued at $197,000 after buying an additional 912 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Myokardia in the 4th quarter valued at approximately $245,000. 79.88% of the stock is owned by institutional investors.

In related news, CFO Taylor C. Harris sold 1,324 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.30, for a total value of $70,569.20. Following the completion of the transaction, the chief financial officer now directly owns 3,750 shares of the company’s stock, valued at approximately $199,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Several research firms have recently commented on MYOK. Zacks Investment Research cut Myokardia from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub raised Myokardia from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet raised Myokardia from a “d+” rating to a “c-” rating in a report on Thursday, April 4th. Cantor Fitzgerald reissued a “buy” rating and issued a $90.00 price target on shares of Myokardia in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on Myokardia from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $75.10.

MYOK opened at $49.99 on Wednesday. The company has a market capitalization of $2.30 billion, a PE ratio of -28.40 and a beta of 2.32. Myokardia Inc has a 12 month low of $39.01 and a 12 month high of $67.79.

Myokardia (NASDAQ:MYOK) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.93) 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%. Sell-side analysts anticipate that Myokardia Inc will post -3.5 earnings per share for the current fiscal 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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