International Assets Investment Management LLC Takes Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

International Assets Investment Management LLC acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,560 shares of the biopharmaceutical company’s stock, valued at approximately $558,000.

Several other hedge funds and other institutional investors have also modified their holdings of CYTK. J.Safra Asset Management Corp lifted its position in Cytokinetics by 642.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 456 shares in the last quarter. UMB Bank n.a. lifted its position in Cytokinetics by 65.6% during the 3rd quarter. UMB Bank n.a. now owns 601 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Blue Trust Inc. lifted its position in Cytokinetics by 225.9% during the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 680 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Cytokinetics during the 1st quarter worth approximately $74,000. Finally, Bessemer Group Inc. lifted its position in Cytokinetics by 25,100.0% during the 1st quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 1,255 shares in the last quarter.

Cytokinetics Price Performance

Shares of CYTK opened at $52.52 on Wednesday. The company has a market cap of $6.18 billion, a P/E ratio of -9.51 and a beta of 0.78. The stock has a fifty day moving average price of $54.18 and a 200 day moving average price of $55.80. The company has a debt-to-equity ratio of 5.93, a current ratio of 10.39 and a quick ratio of 10.39. Cytokinetics, Incorporated has a 12 month low of $30.68 and a 12 month high of $110.25.

Cytokinetics (NASDAQ:CYTK) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.25). The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $7.61 million. Cytokinetics’s revenue was down 71.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.34) EPS. On average, research analysts forecast that Cytokinetics, Incorporated will post -5.15 earnings per share for the current year.

Analysts Set New Price Targets

CYTK has been the topic of several analyst reports. The Goldman Sachs Group downgraded Cytokinetics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $60.00 in a report on Tuesday, August 13th. JMP Securities restated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Cytokinetics from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Cytokinetics in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insiders Place Their Bets

In other Cytokinetics news, CEO Robert I. Blum sold 11,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $55.17, for a total transaction of $634,455.00. Following the completion of the transaction, the chief executive officer now owns 399,412 shares in the company, valued at approximately $22,035,560.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $51.63, for a total value of $258,150.00. Following the completion of the sale, the chief executive officer now owns 397,456 shares in the company, valued at $20,520,653.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert I. Blum sold 11,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $55.17, for a total value of $634,455.00. Following the completion of the sale, the chief executive officer now owns 399,412 shares of the company’s stock, valued at approximately $22,035,560.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,236 shares of company stock worth $3,800,944. 3.40% of the stock is owned by company insiders.

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.