Victory Capital Management Inc. Raises Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Victory Capital Management Inc. raised its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,039 shares of the biopharmaceutical company’s stock after buying an additional 3,436 shares during the period. Victory Capital Management Inc.’s holdings in Cytokinetics were worth $2,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC purchased a new stake in Cytokinetics in the fourth quarter valued at $458,000. Norges Bank purchased a new stake in Cytokinetics during the fourth quarter worth about $60,299,000. TD Asset Management Inc boosted its holdings in Cytokinetics by 82.7% during the fourth quarter. TD Asset Management Inc now owns 182,040 shares of the biopharmaceutical company’s stock worth $15,199,000 after buying an additional 82,400 shares in the last quarter. Crestline Management LP boosted its holdings in Cytokinetics by 74.4% during the fourth quarter. Crestline Management LP now owns 34,887 shares of the biopharmaceutical company’s stock worth $2,913,000 after buying an additional 14,887 shares in the last quarter. Finally, NEOS Investment Management LLC purchased a new stake in Cytokinetics during the fourth quarter worth about $557,000.

Insider Transactions at Cytokinetics

In related news, EVP Fady Ibraham Malik sold 7,384 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the transaction, the executive vice president now owns 122,920 shares in the company, valued at approximately $7,007,669.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.22, for a total value of $271,100.00. Following the completion of the sale, the director now directly owns 20,600 shares of the company’s stock, valued at approximately $1,116,932. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 7,384 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.01, for a total transaction of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares of the company’s stock, valued at $7,007,669.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,837 shares of company stock worth $6,018,383. Insiders own 3.40% of the company’s stock.

Cytokinetics Stock Down 0.4 %

CYTK stock opened at $55.94 on Thursday. 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 1-year low of $25.98 and a 1-year high of $110.25. The firm has a fifty day moving average price of $56.26 and a two-hundred day moving average price of $59.44. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -10.36 and a beta of 0.77.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.25). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $7.61 million. The business’s revenue was down 71.3% on a year-over-year basis. During the same period in the prior year, the company earned ($1.34) EPS. Research analysts predict that Cytokinetics, Incorporated will post -5.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CYTK. Cantor Fitzgerald reissued an “overweight” rating on shares of Cytokinetics in a report on Monday, September 9th. Bank of America reduced their price objective on shares of Cytokinetics from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Raymond James reduced their price objective on shares of Cytokinetics from $92.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. 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. Finally, B. Riley lowered their price target on Cytokinetics from $122.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

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.