E Fund Management Co. Ltd. Purchases 9,336 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

E Fund Management Co. Ltd. increased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 141.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,927 shares of the biopharmaceutical company’s stock after purchasing an additional 9,336 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cytokinetics were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CYTK. First Bank & Trust increased its stake in shares of Cytokinetics by 4.7% in the second quarter. First Bank & Trust now owns 6,757 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 303 shares in the last quarter. J.Safra Asset Management Corp increased its position in Cytokinetics by 642.3% in the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 456 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Cytokinetics by 19.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,416 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 558 shares during the last quarter. Inspire Investing LLC boosted its holdings in Cytokinetics by 13.5% during the first quarter. Inspire Investing LLC now owns 5,087 shares of the biopharmaceutical company’s stock worth $357,000 after buying an additional 605 shares during the last quarter. Finally, DNB Asset Management AS boosted its holdings in Cytokinetics by 9.8% during the second quarter. DNB Asset Management AS now owns 7,231 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 645 shares during the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $59.84, for a total value of $299,200.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at $1,232,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Fady Ibraham Malik sold 7,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.71, for a total transaction of $392,083.00. Following the completion of the sale, the executive vice president now owns 121,704 shares of the company’s stock, valued at $6,536,721.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director B Lynne Parshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $59.84, for a total value of $299,200.00. Following the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,837 shares of company stock worth $6,018,383. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CYTK shares. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Truist Financial cut their target price on Cytokinetics from $86.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Cytokinetics in a research note on Monday, September 9th. Finally, Bank of America cut their target price on Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.67.

Cytokinetics Price Performance

Shares of CYTK stock opened at $55.94 on Thursday. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The company has a market cap of $5.87 billion, a P/E ratio of -10.36 and a beta of 0.77. The business has a fifty day simple moving average of $56.26 and a 200 day simple moving average of $59.44.

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