Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 24.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,364 shares of the biopharmaceutical company’s stock after selling 17,327 shares during the quarter. Van ECK Associates Corp’s holdings in Cytokinetics were worth $2,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Cytokinetics by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after purchasing an additional 109,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cytokinetics by 42.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,321,391 shares of the biopharmaceutical company’s stock worth $69,769,000 after purchasing an additional 395,709 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Cytokinetics by 38.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,212,886 shares of the biopharmaceutical company’s stock worth $64,040,000 after purchasing an additional 339,373 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Cytokinetics by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock worth $60,399,000 after purchasing an additional 167,501 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Cytokinetics by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 542,284 shares of the biopharmaceutical company’s stock worth $28,633,000 after purchasing an additional 7,764 shares during the last quarter.

Cytokinetics Price Performance

NASDAQ CYTK opened at $51.12 on Friday. Cytokinetics, Incorporated has a 52 week low of $40.53 and a 52 week high of $81.36. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 5.93. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -9.50 and a beta of 0.83. The company has a 50-day moving average price of $47.26 and a two-hundred day moving average price of $51.55.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CYTK. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Cytokinetics in a research report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Cytokinetics in a research report on Thursday, February 6th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $80.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Insider Transactions at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 7,300 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $50.16, for a total value 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. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert I. Blum sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $50.76, for a total transaction of $253,800.00. Following the completion of the transaction, the chief executive officer now owns 397,678 shares of the company’s stock, valued at $20,186,135.28. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,122 shares of company stock valued at $1,494,016. Company insiders own 3.40% of the company’s stock.

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.