Jasper Ridge Partners L.P. Takes $2.58 Million Position in MyoKardia, Inc. (MYOK)
Jasper Ridge Partners L.P. acquired a new stake in MyoKardia, Inc. (NASDAQ:MYOK) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 60,196 shares of the biotechnology company’s stock, valued at approximately $2,579,000. Jasper Ridge Partners L.P. owned 0.17% of MyoKardia as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of MyoKardia by 8.9% during the first quarter. Vanguard Group Inc. now owns 686,119 shares of the biotechnology company’s stock valued at $9,022,000 after buying an additional 55,927 shares during the period. Hershey Trust Co. increased its position in shares of MyoKardia by 26.0% during the third quarter. Hershey Trust Co. now owns 20,064 shares of the biotechnology company’s stock valued at $860,000 after buying an additional 4,145 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of MyoKardia during the second quarter valued at about $629,000. Bank of New York Mellon Corp increased its position in shares of MyoKardia by 17.6% during the first quarter. Bank of New York Mellon Corp now owns 56,605 shares of the biotechnology company’s stock valued at $744,000 after buying an additional 8,469 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of MyoKardia by 260.2% during the first quarter. Goldman Sachs Group Inc. now owns 56,400 shares of the biotechnology company’s stock valued at $742,000 after buying an additional 40,744 shares during the period. Hedge funds and other institutional investors own 44.93% of the company’s stock.
Several equities research analysts have recently weighed in on MYOK shares. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price target (up from $32.00) on shares of MyoKardia in a research report on Tuesday, August 8th. TheStreet cut MyoKardia from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded MyoKardia from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine upgraded MyoKardia from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Cowen and Company upped their price target on MyoKardia from $28.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MyoKardia currently has a consensus rating of “Buy” and a consensus target price of $55.00.
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Shares of MyoKardia, Inc. (NASDAQ:MYOK) traded down $2.05 during midday trading on Monday, hitting $37.20. The stock had a trading volume of 304,300 shares, compared to its average volume of 315,704. MyoKardia, Inc. has a 52 week low of $10.55 and a 52 week high of $49.55.
MyoKardia (NASDAQ:MYOK) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.42) 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 during the quarter, compared to analyst estimates of $6.10 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. MyoKardia’s revenue was up 58.6% on a year-over-year basis. research analysts forecast that MyoKardia, Inc. will post -1.62 EPS for the current fiscal year.
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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