DekaBank Deutsche Girozentrale Purchases 2,350 Shares of Myokardia Inc (NASDAQ:MYOK)

DekaBank Deutsche Girozentrale grew its position in shares of Myokardia Inc (NASDAQ:MYOK) by 22.9% in the 1st quarter, HoldingsChannel reports. The fund owned 12,600 shares of the biotechnology company’s stock after buying an additional 2,350 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Myokardia were worth $753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fosun International Ltd increased its position in shares of Myokardia by 96.0% during the 1st quarter. Fosun International Ltd now owns 51,967 shares of the biotechnology company’s stock valued at $2,696,000 after purchasing an additional 25,454 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Myokardia by 0.9% during the 1st quarter. Pictet Asset Management Ltd. now owns 354,635 shares of the biotechnology company’s stock valued at $18,437,000 after purchasing an additional 3,237 shares during the last quarter. BlackRock Inc. increased its position in shares of Myokardia by 5.9% during the 1st quarter. BlackRock Inc. now owns 3,030,138 shares of the biotechnology company’s stock valued at $157,535,000 after purchasing an additional 168,550 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Myokardia by 9.6% during the 1st quarter. New York State Common Retirement Fund now owns 41,418 shares of the biotechnology company’s stock valued at $2,153,000 after purchasing an additional 3,614 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Myokardia by 40.2% during the 1st quarter. TD Asset Management Inc. now owns 63,082 shares of the biotechnology company’s stock valued at $3,280,000 after purchasing an additional 18,085 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

MYOK has been the topic of several recent research reports. TheStreet upgraded Myokardia from a “d+” rating to a “c-” rating in a research report on Thursday, April 4th. Zacks Investment Research lowered Myokardia from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. BidaskClub upgraded Myokardia from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. ValuEngine upgraded Myokardia from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Finally, BMO Capital Markets initiated coverage on Myokardia in a research report on Friday, February 22nd. They set an “outperform” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $75.33.

NASDAQ MYOK opened at $45.79 on Wednesday. Myokardia Inc has a fifty-two week low of $39.01 and a fifty-two week high of $67.79. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -26.02 and a beta of 2.20.

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

In other Myokardia news, CFO Taylor C. Harris sold 1,324 shares of the 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 sale, the chief financial officer now owns 3,750 shares in the company, valued at approximately $199,875. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.70% of the company’s stock.

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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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