Allspring Global Investments Holdings LLC Has $4.11 Million Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)

Allspring Global Investments Holdings LLC decreased its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,021 shares of the biopharmaceutical company’s stock after selling 9,278 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Cytokinetics worth $4,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Cytokinetics by 225.9% in the 3rd quarter. Blue Trust Inc. now owns 981 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 680 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Cytokinetics in the 3rd quarter valued at about $54,000. R Squared Ltd acquired a new stake in shares of Cytokinetics in the 4th quarter valued at about $133,000. Quarry LP increased its position in shares of Cytokinetics by 50.0% in the third quarter. Quarry LP now owns 3,000 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Cytokinetics by 57.1% in the third quarter. Avior Wealth Management LLC now owns 3,999 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 1,454 shares during the last quarter.

Insider Activity

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total transaction of $366,168.00. Following the completion of the transaction, the executive vice president now directly owns 111,878 shares in the company, valued at $5,611,800.48. The trade was a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wendall Wierenga sold 742 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $48.61, for a total transaction of $36,068.62. Following the transaction, the director now owns 24,559 shares of the company’s stock, valued at approximately $1,193,812.99. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,122 shares of company stock worth $1,494,016. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CYTK shares. 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, November 21st. Morgan Stanley raised Cytokinetics from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $70.00 to $67.00 in a research report on Thursday, February 13th. Citigroup started coverage on Cytokinetics in a research report on Friday, February 7th. They issued a “buy” rating and a $86.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Thursday, February 6th. Finally, Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Cytokinetics Trading Up 10.2 %

Shares of NASDAQ:CYTK opened at $51.12 on Friday. Cytokinetics, Incorporated has a 12-month low of $40.53 and a 12-month high of $81.36. The stock has a market cap of $6.03 billion, a PE ratio of -9.50 and a beta of 0.83. The business has a 50 day moving average of $47.26 and a 200-day moving average of $51.55. The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 5.93.

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.