BNP Paribas Financial Markets Sells 15,629 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

BNP Paribas Financial Markets reduced its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 27.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,292 shares of the biopharmaceutical company’s stock after selling 15,629 shares during the quarter. BNP Paribas Financial Markets’ holdings in Cytokinetics were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Cytokinetics by 21.3% during the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after acquiring an additional 12,565 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Cytokinetics by 38.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock valued at $64,040,000 after purchasing an additional 339,373 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in Cytokinetics during the second quarter valued at $10,619,000. Darwin Global Management Ltd. purchased a new stake in Cytokinetics during the second quarter valued at $246,074,000. Finally, WINTON GROUP Ltd purchased a new stake in Cytokinetics during the second quarter valued at $983,000.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $52.10, for a total value of $380,330.00. Following the completion of the transaction, the executive vice president now directly owns 118,920 shares of the company’s stock, valued at $6,195,732. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wendall Wierenga sold 4,452 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total transaction of $232,617.00. Following the completion of the transaction, the director now directly owns 24,559 shares of the company’s stock, valued at $1,283,207.75. The trade was a 15.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,994 shares of company stock worth $3,427,975. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 1.1 %

Shares of Cytokinetics stock opened at $50.96 on Friday. Cytokinetics, Incorporated has a 1 year low of $32.70 and a 1 year high of $110.25. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of -9.47 and a beta of 0.80. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28. The firm’s 50-day moving average is $53.04 and its two-hundred day moving average is $54.10.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.21 million. During the same quarter in the prior year, the company earned ($1.35) EPS. The business’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, research analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CYTK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. Royal Bank of Canada initiated coverage on shares of Cytokinetics in a research note on Friday, November 8th. They issued an “outperform” rating and a $80.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research note on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Cytokinetics 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.