Eqis Capital Management Lowers stake in Cytokinetics (CYTK)

Cytokinetics (CYTK) : Eqis Capital Management reduced its stake in Cytokinetics by 2.71% during the most recent quarter end. The investment management company now holds a total of 194,355 shares of Cytokinetics which is valued at $1,819,163 after selling 5,423 shares in Cytokinetics , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Cytokinetics makes up approximately 0.11% of Eqis Capital Management’s portfolio.

Cytokinetics closed down -0.08 points or -0.88% at $9.06 with 1,93,838 shares getting traded on Tuesday. Post opening the session at $9.12, the shares hit an intraday low of $9.02 and an intraday high of $9.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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