MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 3,260 Shares of Cytokinetics, Incorporated $CYTK

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,918 shares of the biopharmaceutical company’s stock after acquiring an additional 3,260 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Cytokinetics worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Vestal Point Capital LP raised its stake in Cytokinetics by 10.2% in the 1st quarter. Vestal Point Capital LP now owns 2,590,531 shares of the biopharmaceutical company’s stock valued at $104,113,000 after acquiring an additional 240,531 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Cytokinetics by 2.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,310,336 shares of the biopharmaceutical company’s stock worth $52,662,000 after acquiring an additional 30,346 shares during the period. Brown Advisory Inc. grew its position in shares of Cytokinetics by 0.9% in the first quarter. Brown Advisory Inc. now owns 1,086,300 shares of the biopharmaceutical company’s stock valued at $43,658,000 after purchasing an additional 9,869 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Cytokinetics in the first quarter valued at approximately $34,510,000. Finally, Jennison Associates LLC bought a new position in shares of Cytokinetics during the first quarter worth approximately $27,085,000.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $51.13 on Friday. The firm’s fifty day moving average price is $39.45 and its two-hundred day moving average price is $37.92. The stock has a market cap of $6.12 billion, a PE ratio of -10.03 and a beta of 0.62. Cytokinetics, Incorporated has a fifty-two week low of $29.31 and a fifty-two week high of $59.39.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.22. The company had revenue of $66.77 million for the quarter, compared to the consensus estimate of $1.95 million. The business’s quarterly revenue was up 26727.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.31) EPS. As a group, sell-side analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the chief executive officer owned 388,108 shares of the company’s stock, valued at approximately $14,146,536.60. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $51.29, for a total transaction of $102,580.00. Following the sale, the executive vice president directly owned 140,610 shares in the company, valued at approximately $7,211,886.90. The trade was a 1.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,756 shares of company stock valued at $1,274,140. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CYTK. Stifel Nicolaus increased their target price on Cytokinetics from $87.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. JMP Securities reiterated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Tuesday, September 2nd. Raymond James Financial began coverage on shares of Cytokinetics in a research report on Wednesday, July 30th. They issued a “market perform” rating for the company. Wall Street Zen upgraded shares of Cytokinetics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.38.

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.