JPMorgan Chase & Co. Has $6.94 Million Stake in Myokardia Inc (MYOK)

JPMorgan Chase & Co. lowered its holdings in shares of Myokardia Inc (NASDAQ:MYOK) by 65.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,075 shares of the biotechnology company’s stock after selling 313,500 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of Myokardia worth $6,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MYOK. Vanguard Group Inc. lifted its position in Myokardia by 8.9% during the first quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock valued at $9,022,000 after purchasing an additional 55,927 shares during the period. Geode Capital Management LLC lifted its position in Myokardia by 10.7% during the first quarter. Geode Capital Management LLC now owns 134,730 shares of the biotechnology company’s stock valued at $1,771,000 after purchasing an additional 13,057 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Myokardia by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 43,680 shares of the biotechnology company’s stock valued at $575,000 after purchasing an additional 2,394 shares during the period. Rhumbline Advisers increased its holdings in Myokardia by 45.4% during the second quarter. Rhumbline Advisers now owns 18,489 shares of the biotechnology company’s stock valued at $242,000 after buying an additional 5,773 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in Myokardia during the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 63.61% of the company’s stock.

Myokardia Inc (NASDAQ MYOK) opened at $52.90 on Friday. The firm has a market cap of $1,890.00 and a price-to-earnings ratio of -71.49. Myokardia Inc has a 52 week low of $10.55 and a 52 week high of $53.25.

Myokardia (NASDAQ:MYOK) last posted its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.42) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.42). Myokardia had a negative net margin of 53.49% and a negative return on equity of 14.92%. The company had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.10 million. During the same period last year, the company posted ($0.35) earnings per share. Myokardia’s quarterly revenue was up 58.6% on a year-over-year basis. analysts predict that Myokardia Inc will post -1.62 EPS for the current fiscal year.

A number of analysts have commented on MYOK shares. Zacks Investment Research cut shares of Myokardia from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Credit Suisse Group reaffirmed an “outperform” rating and set a $55.00 target price (up from $45.00) on shares of Myokardia in a report on Tuesday, September 19th. TheStreet cut shares of Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. initiated coverage on shares of Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective for the company. Finally, BidaskClub cut shares of Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Myokardia has a consensus rating of “Hold” and a consensus price target of $54.83.

In related news, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $41.09, for a total value of $123,270.00. Following the transaction, the insider now owns 512,117 shares of the company’s stock, valued at approximately $21,042,887.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin P. Starr sold 816,326 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $42.00, for a total transaction of $34,285,692.00. The disclosure for this sale can be found here. Insiders have sold 836,626 shares of company stock valued at $35,146,501 in the last quarter. 33.40% of the stock is owned by company insiders.

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Myokardia Profile

MyoKardia, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the treatment of heritable cardiomyopathies, a group of rare, genetically-driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction. The Company is engaged in the business of developing and commercializing therapeutics.

Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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