Myokardia Inc (MYOK): Cormorant Asset Management Raises Its Stake

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.

bogdanhoda/Shutterstock.com

bogdanhoda/Shutterstock.com

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.

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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%
Bihua Chen 0 1,605,790 0 1,605,790 1,605,790 5.12%

Bihua Chen
Bihua Chen
Cormorant Asset Management

Page 1 of 8 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Myokardia, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
62857M105
(CUSIP Number)
September 28, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ]            Rule 13d-1(b)
[x]            Rule 13d-1(c)
[ ]            Rule 13d-1(d)
___________________________________
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).