Myokardia Inc (MYOK) Position Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its position in shares of Myokardia Inc (NASDAQ:MYOK) by 66.2% in the second quarter, HoldingsChannel reports. The firm owned 167,141 shares of the biotechnology company’s stock after acquiring an additional 66,598 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Myokardia were worth $8,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MYOK. State Board of Administration of Florida Retirement System grew its holdings in Myokardia by 27.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,840 shares of the biotechnology company’s stock valued at $431,000 after purchasing an additional 1,906 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Myokardia by 66.7% during the 1st quarter. State of Wisconsin Investment Board now owns 20,000 shares of the biotechnology company’s stock valued at $976,000 after purchasing an additional 8,000 shares in the last quarter. Northern Trust Corp grew its holdings in Myokardia by 0.9% during the 1st quarter. Northern Trust Corp now owns 241,175 shares of the biotechnology company’s stock valued at $11,769,000 after purchasing an additional 2,037 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Myokardia by 8.2% during the 1st quarter. New York State Common Retirement Fund now owns 25,163 shares of the biotechnology company’s stock valued at $1,228,000 after purchasing an additional 1,900 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new stake in Myokardia during the 1st quarter valued at $242,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Shares of MYOK stock opened at $65.05 on Thursday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -46.86 and a beta of 3.40. Myokardia Inc has a 1-year low of $32.80 and a 1-year high of $67.45.

Myokardia (NASDAQ:MYOK) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.01. The company had revenue of $6.64 million during the quarter, compared to analyst estimates of $6.32 million. Myokardia had a negative net margin of 249.22% and a negative return on equity of 21.16%. sell-side analysts predict that Myokardia Inc will post -2.07 earnings per share for the current year.

In other Myokardia news, CEO Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $59.33, for a total transaction of $177,990.00. Following the completion of the transaction, the chief executive officer now directly owns 77,949 shares of the company’s stock, valued at approximately $4,624,714.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Marc Semigran sold 45,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $59.53, for a total transaction of $2,678,850.00. Following the transaction, the insider now directly owns 41,400 shares of the company’s stock, valued at $2,464,542. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,500 shares of company stock valued at $3,930,890. 4.70% of the stock is owned by company insiders.

MYOK has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Myokardia from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Bank of America initiated coverage on shares of Myokardia in a report on Tuesday, July 10th. They set a “buy” rating and a $71.00 price target for the company. ValuEngine raised shares of Myokardia from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Credit Suisse Group raised their price target on shares of Myokardia from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.22.

About Myokardia

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which has completed Phase II clinical trial that is designed to reduce left ventricular contractility to potentially alleviate the functional consequences and symptoms of hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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