RTW Investments LP Takes $10.88 Million Position in Myokardia Inc (MYOK)

RTW Investments LP acquired a new stake in Myokardia Inc (NASDAQ:MYOK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 253,962 shares of the biotechnology company’s stock, valued at approximately $10,882,000. Myokardia accounts for approximately 1.9% of RTW Investments LP’s investment portfolio, making the stock its 17th largest position. RTW Investments LP owned approximately 0.71% of Myokardia at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Nationwide Fund Advisors grew its stake in shares of Myokardia by 36.3% in the second quarter. Nationwide Fund Advisors now owns 9,729 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 2,591 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in Myokardia during the 2nd quarter worth about $148,000. State of Wisconsin Investment Board purchased a new stake in Myokardia during the 2nd quarter worth about $157,000. The Manufacturers Life Insurance Company lifted its holdings in Myokardia by 38.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,073 shares of the biotechnology company’s stock worth $198,000 after buying an additional 4,215 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Myokardia during the 3rd quarter worth about $202,000. 63.61% of the stock is currently owned by institutional investors and hedge funds.

Myokardia Inc (NASDAQ:MYOK) opened at $35.60 on Wednesday. Myokardia Inc has a 52-week low of $10.55 and a 52-week high of $49.55.

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 Thomson Reuters’ consensus estimate of ($0.42). Myokardia had a negative return on equity of 14.92% and a negative net margin of 53.49%. The company had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $6.10 million. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. sell-side analysts forecast that Myokardia Inc will post -1.62 EPS for the current fiscal year.

In other Myokardia news, Director Kevin P. Starr sold 201,250 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $41.01, for a total transaction of $8,253,262.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin P. Starr sold 601,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $43.00, for a total value of $25,860,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,709,213 shares of company stock worth $72,493,582 in the last quarter. 33.40% of the stock is currently owned by insiders.

MYOK has been the topic of a number of research analyst reports. Zacks Investment Research cut Myokardia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Credit Suisse Group restated an “outperform” rating and issued a $55.00 price target (up previously from $45.00) on shares of Myokardia in a research report on Tuesday, September 19th. TheStreet cut Myokardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. BMO Capital Markets restated an “outperform” rating and issued a $65.00 price target (up previously from $45.00) on shares of Myokardia in a research report on Monday, August 21st. Finally, Wedbush restated an “outperform” rating and issued a $51.00 price target on shares of Myokardia in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.00.

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About Myokardia

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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