Mirae Asset Global Investments Co. Ltd. Has $186,000 Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. bought a new stake in Cytokinetics during the 3rd quarter valued at approximately $54,000. R Squared Ltd purchased a new position in Cytokinetics in the 4th quarter worth approximately $133,000. Quarry LP raised its stake in Cytokinetics by 50.0% during the 3rd quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 1,000 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Cytokinetics by 57.1% during the 3rd quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 1,454 shares during the period.

Analyst Upgrades and Downgrades

CYTK has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research note on Friday, February 7th. Mizuho upped their price objective 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. Stifel Nicolaus started coverage on shares of Cytokinetics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. Morgan Stanley upgraded shares of Cytokinetics from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $70.00 to $67.00 in a report on Thursday. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cytokinetics has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Cytokinetics Stock Performance

CYTK opened at $41.62 on Friday. The business’s fifty day moving average is $47.61 and its 200-day moving average is $51.96. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $81.36. The firm has a market cap 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.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $50.64, for a total value of $369,672.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares of the company’s stock, valued at approximately $5,877,835.44. This represents a 5.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $50.55, for a total value of $252,750.00. Following the transaction, the chief executive officer now directly owns 397,456 shares of the company’s stock, valued at approximately $20,091,400.80. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,122 shares of company stock worth $1,654,806. 3.40% of the stock is owned by corporate insiders.

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.