Amalgamated Bank purchased a new position in shares of Myokardia Inc (NASDAQ:MYOK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,015 shares of the biotechnology company’s stock, valued at approximately $245,000.
A number of other hedge funds have also recently bought and sold shares of MYOK. Hillhouse Capital Advisors Ltd. acquired a new position in Myokardia during the 4th quarter worth approximately $41,938,000. Vanguard Group Inc raised its stake in shares of Myokardia by 32.8% in the third quarter. Vanguard Group Inc now owns 2,995,821 shares of the biotechnology company’s stock worth $195,328,000 after purchasing an additional 740,607 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Myokardia by 32.8% in the third quarter. Vanguard Group Inc. now owns 2,995,821 shares of the biotechnology company’s stock worth $195,328,000 after purchasing an additional 740,607 shares during the last quarter. BB Biotech AG raised its stake in shares of Myokardia by 72.0% in the fourth quarter. BB Biotech AG now owns 877,266 shares of the biotechnology company’s stock worth $42,863,000 after purchasing an additional 367,266 shares during the last quarter. Finally, Orbimed Advisors LLC purchased a new stake in shares of Myokardia in the fourth quarter worth approximately $16,373,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Myokardia stock opened at $50.02 on Tuesday. The company has a market capitalization of $2.05 billion, a PE ratio of -28.42 and a beta of 2.48. Myokardia Inc has a 52 week low of $39.01 and a 52 week high of $67.79.
Several analysts have recently commented on MYOK shares. BidaskClub downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. ValuEngine downgraded Myokardia from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 15th. BMO Capital Markets started coverage on Myokardia in a research note on Friday, February 22nd. They issued an “outperform” rating and a $85.00 price objective for the company. TheStreet raised Myokardia from a “d+” rating to a “c-” rating in a research note on Thursday, April 4th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $90.00 price objective on shares of Myokardia in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $75.80.
In related news, major shareholder Sanofi sold 4,168,899 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $37.66, for a total transaction of $157,000,736.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Taylor C. Harris sold 1,324 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 3,750 shares of the company’s stock, valued at $199,875. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
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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