Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,747 shares of the biopharmaceutical company’s stock after acquiring an additional 2,063 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cytokinetics were worth $4,487,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CYTK. DekaBank Deutsche Girozentrale increased its stake in Cytokinetics by 36.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 75,000 shares of the biopharmaceutical company’s stock valued at $6,131,000 after buying an additional 20,000 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Cytokinetics by 360.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,341 shares of the biopharmaceutical company’s stock valued at $947,000 after buying an additional 8,878 shares during the period. State of Alaska Department of Revenue increased its stake in Cytokinetics by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 60,322 shares of the biopharmaceutical company’s stock valued at $5,036,000 after buying an additional 517 shares during the period. Caprock Group LLC acquired a new position in Cytokinetics in the 4th quarter valued at $216,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Cytokinetics during the 4th quarter worth $46,308,000.

Cytokinetics Stock Performance

Shares of CYTK opened at $68.00 on Tuesday. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -12.48 and a beta of 0.68. Cytokinetics, Incorporated has a one year low of $25.98 and a one year high of $110.25. The stock’s fifty day moving average is $71.93 and its 200-day moving average is $57.85.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $7.62 million. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.45) earnings per share. Analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert I. Blum sold 12,500 shares of Cytokinetics stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $81.42, for a total transaction of $1,017,750.00. Following the transaction, the chief executive officer now directly owns 441,797 shares of the company’s stock, valued at $35,971,111.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $74.31, for a total value of $2,422,877.55. Following the completion of the transaction, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert I. Blum sold 12,500 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $81.42, for a total value of $1,017,750.00. Following the completion of the transaction, the chief executive officer now owns 441,797 shares of the company’s stock, valued at approximately $35,971,111.74. The disclosure for this sale can be found here. Insiders have sold a total of 127,814 shares of company stock valued at $9,605,955 over the last three months. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CYTK shares. UBS Group lowered shares of Cytokinetics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $61.00 to $92.00 in a research report on Wednesday, January 24th. HC Wainwright restated a “buy” rating and set a $94.00 target price on shares of Cytokinetics in a research report on Wednesday, February 28th. Raymond James boosted their target price on shares of Cytokinetics from $63.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, December 28th. StockNews.com lowered shares of Cytokinetics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Mizuho decreased their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.33.

About Cytokinetics

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.