Principal Financial Group Inc. reduced its stake in shares of Myokardia Inc (NASDAQ:MYOK) by 26.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,808 shares of the biotechnology company’s stock after selling 5,953 shares during the period. Principal Financial Group Inc.’s holdings in Myokardia were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc grew its holdings in Myokardia by 32.8% during the 3rd quarter. Vanguard Group Inc now owns 2,995,821 shares of the biotechnology company’s stock valued at $195,328,000 after buying an additional 740,607 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Myokardia by 32.8% in the third quarter. Vanguard Group Inc. now owns 2,995,821 shares of the biotechnology company’s stock valued at $195,328,000 after purchasing an additional 740,607 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Myokardia by 0.3% in the fourth quarter. BlackRock Inc. now owns 2,861,588 shares of the biotechnology company’s stock valued at $139,816,000 after purchasing an additional 9,099 shares in the last quarter. BB Biotech AG grew its holdings in shares of Myokardia by 72.0% in the fourth quarter. BB Biotech AG now owns 877,266 shares of the biotechnology company’s stock valued at $42,863,000 after purchasing an additional 367,266 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Myokardia by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 398,202 shares of the biotechnology company’s stock valued at $19,456,000 after purchasing an additional 37,810 shares in the last quarter. 90.91% of the stock is owned by institutional investors and hedge funds.

MYOK has been the subject of a number of recent research reports. BidaskClub lowered shares of Myokardia from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. TheStreet raised shares of Myokardia from a “d+” rating to a “c-” rating in a report on Thursday, April 4th. Zacks Investment Research lowered shares of Myokardia from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. ValuEngine raised shares of Myokardia from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Finally, Credit Suisse Group cut their target price on shares of Myokardia from $73.00 to $71.00 and set an “outperform” rating for the company in a report on Friday, January 4th. Two analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. Myokardia presently has a consensus rating of “Buy” and a consensus target price of $75.80.

In related news, CFO Taylor C. Harris sold 1,324 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $53.30, for a total value of $70,569.20. Following the completion of the sale, the chief financial officer now directly owns 3,750 shares in the company, valued at $199,875. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Sanofi sold 4,168,899 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $37.66, for a total value of $157,000,736.34. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.

MYOK stock opened at $47.36 on Friday. Myokardia Inc has a fifty-two week low of $39.01 and a fifty-two week high of $67.79.

Myokardia (NASDAQ:MYOK) last issued its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.07. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $8.57 million. Myokardia had a negative return on equity of 20.00% and a negative net margin of 201.81%. Sell-side analysts forecast that Myokardia Inc will post -3.1 EPS for the current fiscal year.

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Myokardia Company Profile

MyoKardia, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. Its lead product candidate is mavacamten, an orally administered small molecule, which is in Phase III clinical trial that is designed to reduce left ventricular contractility to alleviate the functional consequences and symptoms of obstructive hypertrophic cardiomyopathy (HCM) and prevent or reverse HCM progression, as well as in Phase II clinical trial for non-obstructive HCM.

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Institutional Ownership by Quarter for Myokardia (NASDAQ:MYOK)

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