Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 68.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,630 shares of the biopharmaceutical company’s stock after acquiring an additional 9,159 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Cytokinetics were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Darwin Global Management Ltd. acquired a new stake in Cytokinetics in the second quarter valued at $246,074,000. Integral Health Asset Management LLC raised its holdings in Cytokinetics by 122.2% in the second quarter. Integral Health Asset Management LLC now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $54,180,000 after acquiring an additional 550,000 shares in the last quarter. Hood River Capital Management LLC raised its holdings in Cytokinetics by 5.9% in the second quarter. Hood River Capital Management LLC now owns 737,637 shares of the biopharmaceutical company’s stock valued at $39,965,000 after acquiring an additional 40,990 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Cytokinetics in the first quarter valued at $51,277,000. Finally, Great Point Partners LLC raised its holdings in Cytokinetics by 134.5% in the second quarter. Great Point Partners LLC now owns 474,202 shares of the biopharmaceutical company’s stock valued at $25,692,000 after acquiring an additional 272,000 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on CYTK shares. JPMorgan Chase & Co. increased their target price on shares of Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Cytokinetics in a report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.93.

Insiders Place Their Bets

In related news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $22,035,560.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Robert I. Blum sold 11,500 shares of Cytokinetics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the transaction, the chief executive officer now owns 399,412 shares of the company’s stock, valued at $22,035,560.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Fady Ibraham Malik sold 7,300 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.19, for a total value of $395,587.00. Following the completion of the transaction, the executive vice president now directly owns 116,920 shares in the company, valued at $6,335,894.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,784 shares of company stock worth $3,323,317. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Down 1.4 %

Shares of Cytokinetics stock opened at $51.51 on Wednesday. Cytokinetics, Incorporated has a 1-year low of $30.68 and a 1-year high of $110.25. The company has a market capitalization of $6.06 billion, a P/E ratio of -9.59 and a beta of 0.77. The business’s fifty day moving average price is $54.61 and its two-hundred day moving average price is $56.27. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. The firm’s quarterly revenue was down 71.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.34) EPS. As a group, research analysts forecast that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

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.