Cytokinetics, Incorporated (NASDAQ:CYTK) Stake Boosted by Vanguard Group Inc.

Vanguard Group Inc. raised its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,915,821 shares of the biopharmaceutical company’s stock after buying an additional 154,216 shares during the quarter. Vanguard Group Inc. owned 0.10% of Cytokinetics worth $560,520,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CYTK. Jones Financial Companies Lllp boosted its stake in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Cytokinetics by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 143,495 shares of the biopharmaceutical company’s stock valued at $6,750,000 after purchasing an additional 565 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Cytokinetics by 1.9% in the fourth quarter. Arizona State Retirement System now owns 32,366 shares of the biopharmaceutical company’s stock worth $1,522,000 after buying an additional 600 shares during the period. Inspire Investing LLC grew its holdings in shares of Cytokinetics by 7.8% during the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 616 shares in the last quarter. Finally, Centricity Wealth Management LLC acquired a new position in Cytokinetics during the fourth quarter valued at $29,000.

Cytokinetics Trading Down 6.9 %

Shares of CYTK stock opened at $40.19 on Tuesday. Cytokinetics, Incorporated has a 12 month low of $39.81 and a 12 month high of $75.71. The company has a market cap of $4.76 billion, a PE ratio of -7.47 and a beta of 0.95. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93. The business’s 50 day moving average is $45.64 and its two-hundred day moving average is $49.42.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. Equities analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research note on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Friday, February 28th. Citigroup began coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price objective on the stock. Evercore ISI upgraded shares of Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the sale, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at approximately $5,329,980.32. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Callos sold 3,341 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $43.27, for a total transaction of $144,565.07. Following the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,834 shares of company stock valued at $2,560,525. 3.40% of the stock is owned by insiders.

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.