Mirae Asset Global Investments Co. Ltd. Sells 323 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,933 shares of the biopharmaceutical company’s stock after selling 323 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cytokinetics were worth $186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cytokinetics by 42.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after buying an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Cytokinetics by 38.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after acquiring an additional 339,373 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after buying an additional 167,501 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Cytokinetics by 1.5% during the third quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock worth $28,633,000 after purchasing an additional 7,764 shares during the last quarter.

Insider Activity

In other news, Director Wendall Wierenga sold 742 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $48.61, for a total value of $36,068.62. Following the completion of the sale, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.55, for a total transaction of $252,750.00. Following the completion of the transaction, the chief executive officer now owns 397,456 shares of the company’s stock, valued at $20,091,400.80. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,122 shares of company stock worth $1,654,806 over the last three months. 3.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CYTK has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a research report on Friday, October 18th. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a report on Friday, February 7th. Royal Bank of Canada increased their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus assumed coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Price Performance

CYTK stock opened at $41.62 on Friday. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $81.36. The company has a fifty day moving average price of $47.61 and a 200-day moving average price of $51.96. The company has a market capitalization of $4.91 billion, a P/E ratio of -7.74 and a beta of 0.83. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

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.