A recent 13G filing with the Securities and Exchange Commission revealed that Bihua Chen‘s Cormorant Asset Management has boosted its stake in Myokardia Inc (NASDAQ:MYOK) to 1.61 million shares, which represent 5.12% of the float. Previously, Cormorant Asset Management’s stake in the company consisted of 758,290 shares, as per its 13F filing for the reporting period of June 30.
Myokardia Inc (NASDAQ:MYOK) is a clinical-stage biopharmaceutical company that works on producing therapeutics for treating a group of rare heart disorders. Over the past 12 months, the company’s stock has gained 51.28%. For the second quarter of 2016, Myokardia disclosed a loss per share of $0.37 and revenue of $3.5 million, compared to a loss per share of $2.78 and the same revenue for the corresponding period of 2015. Recently, Wedbush reiterated its ‘Outperform’ rating on Myokardia’s stock but lowered its price target on it to $22 from $24.
Six of the smart money managers contained in our database reported holding long positions in Myokardia Inc (NASDAQ:MYOK) as of the end of June, down by one from the end of March. Among the bullish investors were Christopher Medlock James’ Partner Fund Management, which held a position valued at $10.40 million, Joseph Edelman’s Perceptive Advisors, with a position worth $6.24 million, James E. Flynn’s Deerfield Management, and Richard Driehaus’ Driehaus Capital.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Cormorant Global Healthcare Master Fund||0||1,339,426||0||1,339,426||1,339,426||4.27%|
|Cormorant Global Healthcare GP||0||1,339,426||0||1,339,426||1,339,426||4.27%|
|Cormorant Asset Management||0||1,605,790||0||1,605,790||1,605,790||5.12%|
Page 1 of 8 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
September 28, 2016
(Date of Event which Requires Filing of this Statement)