Advisory Research Inc. acquired a new stake in Myokardia Inc (NASDAQ:MYOK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,695 shares of the biotechnology company’s stock, valued at approximately $1,741,000. Advisory Research Inc. owned approximately 0.07% of Myokardia at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MYOK. Partner Fund Management L.P. lifted its stake in shares of Myokardia by 91.5% in the second quarter. Partner Fund Management L.P. now owns 1,819,315 shares of the biotechnology company’s stock valued at $90,329,000 after buying an additional 869,404 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Myokardia by 45.6% in the second quarter. BlackRock Inc. now owns 2,627,459 shares of the biotechnology company’s stock valued at $130,454,000 after buying an additional 822,404 shares in the last quarter. FMR LLC lifted its stake in shares of Myokardia by 11.2% in the second quarter. FMR LLC now owns 5,990,112 shares of the biotechnology company’s stock valued at $297,409,000 after buying an additional 601,567 shares in the last quarter. BB Biotech AG bought a new position in shares of Myokardia in the second quarter valued at $23,832,000. Finally, Millennium Management LLC lifted its stake in shares of Myokardia by 120.9% in the second quarter. Millennium Management LLC now owns 477,857 shares of the biotechnology company’s stock valued at $23,726,000 after buying an additional 261,532 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Anastasios Gianakakos sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $56.57, for a total transaction of $169,710.00. Following the transaction, the insider now directly owns 75,087 shares of the company’s stock, valued at $4,247,671.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc Semigran sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were 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 in the company, valued at $2,464,542. The disclosure for this sale can be found here. Insiders have sold 59,978 shares of company stock worth $3,571,000 over the last three months. 33.40% of the stock is owned by insiders.
A number of research analysts have weighed in on MYOK shares. BidaskClub raised shares of Myokardia from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised shares of 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. Cantor Fitzgerald initiated coverage on shares of Myokardia in a research report on Monday, October 1st. They set an “overweight” rating and a $90.00 price target on the stock. 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 research report on Thursday, August 9th. Finally, Citigroup initiated coverage on shares of Myokardia in a research report on Friday, September 28th. They set a “buy” rating and a $90.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $76.64.
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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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