Rhenman & Partners Asset Management AB Boosts Position in Myokardia Inc (MYOK)

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Rhenman & Partners Asset Management AB increased its position in shares of Myokardia Inc (NASDAQ:MYOK) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,322 shares of the biotechnology company’s stock after acquiring an additional 1,050 shares during the period. Rhenman & Partners Asset Management AB owned about 0.47% of Myokardia worth $9,250,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in Myokardia by 71.2% in the 4th quarter. Bank of Montreal Can now owns 553 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Myokardia by 16.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 6,400 shares of the biotechnology company’s stock valued at $313,000 after purchasing an additional 900 shares in the last quarter. Chartwell Investment Partners LLC raised its position in Myokardia by 3.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 29,521 shares of the biotechnology company’s stock valued at $1,442,000 after purchasing an additional 915 shares in the last quarter. Rhumbline Advisers raised its position in Myokardia by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 30,209 shares of the biotechnology company’s stock valued at $1,970,000 after purchasing an additional 981 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Myokardia by 19.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,072 shares of the biotechnology company’s stock valued at $736,000 after purchasing an additional 2,482 shares in the last quarter. 88.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ MYOK opened at $40.11 on Monday. Myokardia Inc has a fifty-two week low of $39.16 and a fifty-two week high of $67.79. The stock has a market cap of $1.62 billion, a PE ratio of -28.65 and a beta of 2.49.

In other Myokardia news, CEO Anastasios Gianakakos bought 2,500 shares of the business’s stock in a transaction dated Friday, January 4th. The shares were acquired at an average price of $39.86 per share, with a total value of $99,650.00. Following the transaction, the chief executive officer now owns 79,737 shares of the company’s stock, valued at $3,178,316.82. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider June Lee sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $60.81, for a total value of $304,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,770 shares of company stock worth $593,275 in the last three months. Corporate insiders own 4.70% of the company’s stock.

A number of equities research analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Myokardia in a research report on Friday, November 9th. BidaskClub raised Myokardia from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised Myokardia from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Thursday, November 15th. ValuEngine lowered Myokardia from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Citigroup reduced their price target on Myokardia from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Myokardia presently has an average rating of “Buy” and a consensus target price of $74.64.

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Myokardia Company Profile

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.

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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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