Is Myokardia Inc (MYOK) A Good Stock To Buy?

As aggregate interest increased, key hedge funds were leading the bulls’ herd. Baker Bros. Advisors, led by Julian Baker and Felix Baker, assembled the most outsized position in Myokardia Inc (NASDAQ:MYOK). Baker Bros. Advisors had $1.6 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also made a $1.6 million investment in the stock during the quarter. The other funds with new positions in the stock are Millennium Management, one of the 10 largest hedge funds in the world, John Fichthorn’s Dialectic Capital Management, and Louis Bacon’s Moore Global Investments.

Let’s also examine hedge fund activity in other stocks similar to Myokardia Inc (NASDAQ:MYOK). These stocks are Barnes & Noble Education Inc (NYSE:BNED), Triton International Limited(NYSE:TRTN), Ennis, Inc. (NYSE:EBF), and AG Mortgage Investment Trust Inc (NYSE:MITT). All of these stocks’ market caps match MYOK’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $39 million. That figure was $81 million in MYOK’s case. Barnes & Noble Education Inc (NYSE:BNED) is the most popular stock in this table. On the other hand AG Mortgage Investment Trust Inc (NYSE:MITT) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Myokardia Inc (NASDAQ:MYOK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None