BlueMountain Capital Management LLC lessened its stake in shares of Myokardia Inc (NASDAQ:MYOK) by 68.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,850 shares of the biotechnology company’s stock after selling 10,663 shares during the period. BlueMountain Capital Management LLC’s holdings in Myokardia were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its holdings in Myokardia by 92.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 3,276 shares of the biotechnology company’s stock worth $163,000 after buying an additional 1,576 shares during the period. SG Americas Securities LLC acquired a new stake in Myokardia during the 2nd quarter worth about $191,000. Amalgamated Bank acquired a new stake in Myokardia during the 2nd quarter worth about $231,000. California Public Employees Retirement System acquired a new stake in Myokardia during the 1st quarter worth about $242,000. Finally, Legal & General Group Plc increased its holdings in shares of Myokardia by 36.0% in the 2nd quarter. Legal & General Group Plc now owns 4,961 shares of the biotechnology company’s stock valued at $247,000 after purchasing an additional 1,312 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $64.00 target price (down previously from $77.00) on shares of Myokardia in a report on Thursday, August 9th. ValuEngine upgraded Myokardia from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. BidaskClub downgraded Myokardia from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded Myokardia from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on Myokardia from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $71.22.

In related news, insider Jake Bauer sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $56.88, for a total value of $426,600.00. Following the completion of the sale, the insider now owns 68,106 shares of the company’s stock, valued at approximately $3,873,869.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anastasios Gianakakos sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $53.13, for a total value of $159,390.00. Following the completion of the sale, the insider now directly owns 77,949 shares of the company’s stock, valued at approximately $4,141,430.37. The disclosure for this sale can be found here. In the last three months, insiders sold 61,500 shares of company stock valued at $3,615,240. 33.40% of the stock is currently owned by company insiders.

Shares of MYOK opened at $63.10 on Monday. The stock has a market capitalization of $2.53 billion, a PE ratio of -45.07 and a beta of 3.40. Myokardia Inc has a fifty-two week low of $32.80 and a fifty-two week high of $66.55.

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

Myokardia 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.

Featured Article: What is the NASDAQ Stock Market?

Want to see what other hedge funds are holding MYOK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myokardia Inc (NASDAQ:MYOK).

Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

Receive News & Ratings for Myokardia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myokardia and related companies with MarketBeat.com's FREE daily email newsletter.