China Universal Asset Management Co. Ltd. Has $730,000 Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

China Universal Asset Management Co. Ltd. lessened its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 31.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,471 shares of the biopharmaceutical company’s stock after selling 6,299 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cytokinetics were worth $730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp raised its stake in shares of Cytokinetics by 642.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 456 shares in the last quarter. Fifth Third Bancorp raised its position in Cytokinetics by 94.1% in the first quarter. Fifth Third Bancorp now owns 656 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 318 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Cytokinetics during the first quarter valued at approximately $74,000. GAMMA Investing LLC bought a new stake in shares of Cytokinetics in the 4th quarter valued at approximately $80,000. Finally, Bessemer Group Inc. raised its holdings in shares of Cytokinetics by 25,100.0% in the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 1,255 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Cytokinetics in a research report on Monday, August 12th. Truist Financial cut their target price on shares of Cytokinetics from $86.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Barclays decreased their price target on Cytokinetics from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer cut their price objective on Cytokinetics from $107.00 to $106.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Bank of America reduced their price objective 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Cytokinetics presently has an average rating of “Moderate Buy” and an average price target of $80.27.

Insider Buying and Selling at Cytokinetics

In other news, Director B Lynne Parshall sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the transaction, the director now directly owns 20,600 shares in the company, valued at approximately $1,232,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $59.84, for a total transaction of $299,200.00. Following the completion of the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,232,704. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert Wong sold 13,011 shares of Cytokinetics stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $48.88, for a total transaction of $635,977.68. Following the completion of the transaction, the chief accounting officer now directly owns 16,653 shares in the company, valued at approximately $813,998.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 169,832 shares of company stock valued at $9,087,691. 3.40% of the stock is currently owned by company insiders.

Cytokinetics Stock Down 0.2 %

NASDAQ CYTK traded down $0.10 during trading hours on Tuesday, hitting $56.36. The company’s stock had a trading volume of 129,241 shares, compared to its average volume of 2,397,979. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The firm has a market capitalization of $5.91 billion, a P/E ratio of -10.46 and a beta of 0.75. The stock has a fifty day moving average of $55.35 and a 200 day moving average of $62.63.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings results 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 firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $7.61 million. During the same quarter in the prior year, the business posted ($1.34) earnings per share. The firm’s revenue for the quarter was down 71.3% compared to the same quarter last year. On average, analysts predict that Cytokinetics, Incorporated will post -4.5 earnings per share for the current year.

Cytokinetics Company 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.