E Fund Management Co. Ltd. Has $1.18 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

E Fund Management Co. Ltd. raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,085 shares of the biopharmaceutical company’s stock after purchasing an additional 1,404 shares during the period. E Fund Management Co. Ltd.’s holdings in Cytokinetics were worth $1,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TD Asset Management Inc lifted its holdings in Cytokinetics by 35.9% in the third quarter. TD Asset Management Inc now owns 99,640 shares of the biopharmaceutical company’s stock valued at $2,935,000 after buying an additional 26,297 shares during the period. Assenagon Asset Management S.A. acquired a new position in Cytokinetics in the 4th quarter valued at $46,308,000. Vanguard Group Inc. lifted its position in shares of Cytokinetics by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,743,324 shares of the biopharmaceutical company’s stock valued at $316,498,000 after acquiring an additional 472,595 shares during the period. HealthInvest Partners AB acquired a new position in shares of Cytokinetics during the 4th quarter worth $980,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Cytokinetics during the 4th quarter valued at $1,305,000.

Insider Activity at Cytokinetics

In other news, Director John T. Henderson sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $76.48, for a total value of $382,400.00. Following the sale, the director now directly owns 42,632 shares of the company’s stock, valued at approximately $3,260,495.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cytokinetics news, Director John T. Henderson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $76.48, for a total value of $382,400.00. Following the completion of the transaction, the director now directly owns 42,632 shares of the company’s stock, valued at $3,260,495.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fady Ibraham Malik sold 32,605 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 138,567 shares in the company, valued at approximately $10,296,913.77. The disclosure for this sale can be found here. Insiders have sold a total of 96,318 shares of company stock valued at $6,701,940 in the last ninety days. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CYTK shares. JMP Securities dropped their target price on shares of Cytokinetics from $110.00 to $106.00 and set a “market outperform” rating on the stock in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $94.00 price target on shares of Cytokinetics in a research report on Wednesday. Oppenheimer lowered their target price on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $86.00 price objective on shares of Cytokinetics in a research note on Monday, April 8th. Finally, UBS Group lowered Cytokinetics from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $61.00 to $92.00 in a report on Wednesday, January 24th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.60.

Cytokinetics Stock Down 1.9 %

CYTK traded down $1.25 during trading hours on Thursday, reaching $64.02. 2,404,732 shares of the company’s stock traded hands, compared to its average volume of 2,738,094. The firm has a market capitalization of $6.70 billion, a PE ratio of -11.86 and a beta of 0.72. The firm has a 50-day moving average price of $67.82 and a 200 day moving average price of $61.66. Cytokinetics, Incorporated has a 52-week low of $25.98 and a 52-week high of $110.25.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.17). The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.91 million. During the same quarter in the previous year, the business earned ($1.38) EPS. Cytokinetics’s revenue was down 81.8% compared to the same quarter last year. Equities analysts predict that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

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.