E Fund Management Co. Ltd. Acquires 1,404 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

E Fund Management Co. Ltd. raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Cytokinetics by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 789,969 shares of the biopharmaceutical company’s stock worth $65,955,000 after acquiring an additional 33,257 shares during the period. Lisanti Capital Growth LLC purchased a new stake in shares of Cytokinetics during the fourth quarter worth $4,215,000. Maryland State Retirement & Pension System raised its position in shares of Cytokinetics by 0.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 35,637 shares of the biopharmaceutical company’s stock valued at $2,975,000 after buying an additional 278 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of Cytokinetics by 43.6% in the fourth quarter. Natixis Advisors L.P. now owns 62,962 shares of the biopharmaceutical company’s stock valued at $5,256,000 after purchasing an additional 19,124 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Cytokinetics during the fourth quarter worth $44,747,000.

Cytokinetics Stock Down 1.9 %

Shares of Cytokinetics stock traded down $1.25 during trading on Thursday, reaching $64.02. 2,404,732 shares of the company were exchanged, compared to its average volume of 2,738,094. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -11.86 and a beta of 0.72. The business has a 50-day moving average price of $67.82 and a 200-day moving average price of $61.66.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.17). The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.91 million. The firm’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.38) EPS. On average, equities research analysts forecast that Cytokinetics, Incorporated will post -4.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CYTK has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a research report on Thursday. JMP Securities reduced their target price on Cytokinetics from $110.00 to $106.00 and set a “market outperform” rating for the company in a report on Thursday. Mizuho lowered 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. Truist Financial reaffirmed a “buy” rating and issued a $86.00 target price on shares of Cytokinetics in a report on Monday, April 8th. Finally, UBS Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $61.00 to $92.00 in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Insider Activity

In related news, 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 transaction of $2,422,877.55. Following the completion of the transaction, the executive vice president now directly owns 138,567 shares of the company’s stock, valued at $10,296,913.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John T. Henderson sold 10,562 shares of Cytokinetics stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $64.54, for a total transaction of $681,671.48. Following the completion of the sale, the director now directly owns 32,070 shares of the company’s stock, valued at approximately $2,069,797.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 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 96,318 shares of company stock worth $6,701,940 over the last ninety days. Insiders own 3.40% of the company’s stock.

Cytokinetics Company 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.