Victory Capital Management Inc. Sells 1,435 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Victory Capital Management Inc. reduced its stake in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,604 shares of the biopharmaceutical company’s stock after selling 1,435 shares during the quarter. Victory Capital Management Inc.’s holdings in Cytokinetics were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CYTK. J.Safra Asset Management Corp grew its stake in Cytokinetics by 642.3% during the second quarter. J.Safra Asset Management Corp now owns 527 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 456 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of 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 during the period. Blue Trust Inc. increased its stake in Cytokinetics by 225.9% in the third quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. acquired a new position in Cytokinetics during the third quarter valued at approximately $54,000. Finally, Bessemer Group Inc. lifted its stake in Cytokinetics by 25,100.0% during the first quarter. Bessemer Group Inc. now owns 1,260 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,255 shares during the last quarter.

Cytokinetics Price Performance

Shares of CYTK opened at $49.10 on Monday. The business has a 50-day moving average of $53.60 and a 200-day moving average of $54.66. Cytokinetics, Incorporated has a 1 year low of $30.68 and a 1 year high of $110.25. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -9.13 and a beta of 0.78. The company has a debt-to-equity ratio of 5.93, a current ratio of 9.28 and a quick ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) EPS 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 the consensus estimate of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Wednesday, November 20th. Mizuho lifted their target price on Cytokinetics from $99.00 to $103.00 and gave the company an “outperform” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 price target on shares of Cytokinetics in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the transaction, the executive vice president now owns 122,920 shares in the company, valued at $7,007,669.20. The trade was a 5.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert I. Blum sold 5,000 shares of Cytokinetics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the sale, the chief executive officer now owns 397,456 shares in the company, valued at $22,666,915.68. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,078 shares of company stock valued at $3,514,119. 3.40% of the stock is currently owned by company 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.