Ecor1 Capital buys $25,997,319 stake in Cytokinetics (CYTK)

Cytokinetics (CYTK) : Ecor1 Capital scooped up 86,897 additional shares in Cytokinetics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,139,697 shares of Cytokinetics which is valued at $25,997,319.Cytokinetics makes up approximately 11.22% of Ecor1 Capital’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in CYTK by selling 29,452 shares or 77.4% in the most recent quarter. The Hedge Fund company now holds 8,600 shares of CYTK which is valued at $104,490.Raymond James Associates reduced its stake in CYTK by selling 166 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 12,450 shares of CYTK which is valued at $151,268.State Board Of Administration Of Florida Retirement System boosted its stake in CYTK in the latest quarter, The investment management firm added 4,103 additional shares and now holds a total of 14,778 shares of Cytokinetics which is valued at $179,109.Strs Ohio boosted its stake in CYTK in the latest quarter, The investment management firm added 5,000 additional shares and now holds a total of 64,900 shares of Cytokinetics which is valued at $672,364.

Cytokinetics closed down -1.57 points or -13.01% at $10.5 with 27,28,744 shares getting traded on Thursday. Post opening the session at $12.51, the shares hit an intraday low of $10.05 and an intraday high of $12.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Many Wall Street Analysts have commented on Cytokinetics. Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .

Cytokinetics Incorporated is a clinical stage biopharmaceutical company. The Company is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions. The Company’s drug candidates that are in clinical development are its skeletal muscle activators tirasemtiv and CK-2127107 and its cardiac muscle activator omecamtiv mecarbil. Tirasemtiv and CK-2127107 are structurally distinct and selective small molecules that activate the fast skeletal muscle troponin complex in the sarcomere by increasing its sensitivity to calcium leading to an increase in skeletal muscle contractility. COSMIC-HF (Chronic Oral Study of Myosin Activation to Increase Contractility in Heart Failure) is a Phase II clinical trial designed to assess the pharmacokinetics and tolerability of omecamtiv mecarbil dosed orally in patients with heart failure and left ventricular systolic dysfunction.

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