Charles Schwab Investment Management Inc. Has $69.77 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 42.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,321,391 shares of the biopharmaceutical company’s stock after purchasing an additional 395,709 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Cytokinetics were worth $69,769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CYTK. J.Safra Asset Management Corp lifted its position in shares of Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 456 shares during the period. UMB Bank n.a. raised its stake in Cytokinetics by 65.6% in the third quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in Cytokinetics during the third quarter worth about $54,000. Finally, Quarry LP increased its holdings in Cytokinetics by 233.3% in the 2nd quarter. Quarry LP now owns 2,000 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,400 shares during the period.

Analyst Ratings Changes

CYTK has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Royal Bank of Canada began coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. lifted their target price on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics Stock Performance

Shares of Cytokinetics stock opened at $52.22 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of -9.71 and a beta of 0.78. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The company’s fifty day moving average is $53.31 and its 200 day moving average is $54.48.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the firm posted ($1.35) earnings per share. Sell-side analysts forecast that Cytokinetics, Incorporated will post -5.25 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the sale, the executive vice president now directly owns 111,878 shares in the company, valued at $5,611,800.48. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the sale, the chief executive officer now directly owns 397,456 shares in the company, valued at $22,666,915.68. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,378 shares of company stock worth $3,880,287. 3.40% of the stock is currently owned by insiders.

About Cytokinetics

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.