MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,658 shares of the biopharmaceutical company’s stock after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Cytokinetics worth $3,372,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in shares of Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Cytokinetics by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System grew its position in shares of Cytokinetics by 1.9% during the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock valued at $1,522,000 after purchasing an additional 600 shares in the last quarter. Inspire Investing LLC grew its position in shares of Cytokinetics by 7.8% during the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares in the last quarter. Finally, Centricity Wealth Management LLC purchased a new position in shares of Cytokinetics during the fourth quarter valued at about $29,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Cytokinetics from $47.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada lowered their price target on shares of Cytokinetics from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Cantor Fitzgerald raised shares of Cytokinetics to a “strong-buy” rating in a report on Tuesday, May 13th. Stifel Nicolaus began coverage on shares of Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target for the company. Finally, Barclays lowered their price target on shares of Cytokinetics from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Cytokinetics presently has an average rating of “Moderate Buy” and a consensus price target of $74.44.

Cytokinetics Stock Down 0.8%

Shares of NASDAQ CYTK opened at $30.75 on Tuesday. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The company has a market cap of $3.67 billion, a P/E ratio of -5.72 and a beta of 0.81. Cytokinetics, Incorporated has a 1 year low of $29.31 and a 1 year high of $61.40. The firm has a 50-day simple moving average of $38.62 and a two-hundred day simple moving average of $45.04.

Cytokinetics (NASDAQ:CYTK) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.77 million. The business’s revenue was up 89.1% compared to the same quarter last year. During the same period last year, the business posted ($1.33) earnings per share. Research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Insider Transactions at Cytokinetics

In other news, EVP Andrew Callos sold 4,002 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $36.68, for a total transaction of $146,793.36. Following the transaction, the executive vice president now directly owns 60,687 shares of the company’s stock, valued at approximately $2,225,999.16. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Muna Bhanji sold 1,454 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $29.73, for a total transaction of $43,227.42. Following the transaction, the director now directly owns 23,510 shares in the company, valued at approximately $698,952.30. This trade represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,816 shares of company stock valued at $3,850,385. 2.70% of the stock is currently owned by company insiders.

Cytokinetics Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases. The company develops small molecule drug candidates primarily engineered to impact muscle function and contractility.