Essex Investment Management Co. LLC lowered its stake in Myokardia Inc (NASDAQ:MYOK) by 28.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,505 shares of the biotechnology company’s stock after selling 8,393 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Myokardia were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Myokardia by 11.5% in the second quarter. Vanguard Group Inc. now owns 764,919 shares of the biotechnology company’s stock worth $10,020,000 after buying an additional 78,800 shares during the period. Wells Fargo & Company MN raised its stake in shares of Myokardia by 2,151.7% in the third quarter. Wells Fargo & Company MN now owns 417,439 shares of the biotechnology company’s stock worth $17,887,000 after buying an additional 398,900 shares during the period. VHCP Management II LLC bought a new position in shares of Myokardia in the third quarter worth about $11,355,000. Fernwood Investment Management LLC raised its stake in shares of Myokardia by 7.3% in the fourth quarter. Fernwood Investment Management LLC now owns 264,454 shares of the biotechnology company’s stock worth $11,134,000 after buying an additional 18,072 shares during the period. Finally, RTW Investments LP bought a new position in shares of Myokardia in the third quarter worth about $10,882,000. 63.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Myokardia Inc (NASDAQ MYOK) opened at $51.25 on Thursday. Myokardia Inc has a 1 year low of $10.80 and a 1 year high of $55.40.

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

In related news, insider Anastasios Gianakakos sold 3,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $51.05, for a total transaction of $153,150.00. Following the completion of the sale, the insider now owns 77,390 shares in the company, valued at $3,950,759.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jake Bauer sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.89, for a total value of $214,450.00. Following the sale, the insider now owns 62,877 shares of the company’s stock, valued at approximately $2,696,794.53. The disclosure for this sale can be found here. Insiders have sold 840,326 shares of company stock valued at $35,376,662 in the last quarter. 33.40% of the stock is currently owned by company insiders.

MYOK has been the topic of several recent research reports. Zacks Investment Research downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. TheStreet downgraded Myokardia from a “c” rating to a “d+” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. initiated coverage on Myokardia in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price objective on the stock. BidaskClub downgraded Myokardia from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Myokardia in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $55.67.

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Myokardia Company 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.

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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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