Cytokinetics, Incorporated (NASDAQ:CYTK) Position Reduced by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,744 shares of the biopharmaceutical company’s stock after selling 1,993 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cytokinetics were worth $552,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Cytokinetics during the fourth quarter valued at about $29,000. J.Safra Asset Management Corp lifted its stake in Cytokinetics by 62.1% during the fourth quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 671 shares in the last quarter. Blue Trust Inc. lifted its stake in Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 842 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Cytokinetics during the fourth quarter valued at about $133,000.

Analysts Set New Price Targets

CYTK has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 price target for the company. Royal Bank of Canada increased their price target on shares of Cytokinetics from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Mizuho increased their price target on shares of Cytokinetics from $99.00 to $103.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Transactions at Cytokinetics

In related news, EVP Andrew Callos sold 3,341 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now directly owns 64,434 shares of the company’s stock, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendall Wierenga sold 742 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,133 shares of company stock worth $1,755,790. Insiders own 3.40% of the company’s stock.

Cytokinetics Trading Up 0.4 %

Shares of Cytokinetics stock opened at $43.43 on Friday. The company’s fifty day simple moving average is $46.80 and its 200-day simple moving average is $50.92. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -8.07 and a beta of 0.95. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a 1 year low of $40.53 and a 1 year high of $75.71.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. As a group, sell-side analysts expect that Cytokinetics, Incorporated will post -5.24 EPS for the current 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.