Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,323 shares of the biopharmaceutical company’s stock after selling 1,481 shares during the quarter. HighTower Advisors LLC’s holdings in Cytokinetics were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Cytokinetics by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock valued at $150,433,000 after buying an additional 109,938 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cytokinetics by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,335,189 shares of the biopharmaceutical company’s stock worth $62,807,000 after acquiring an additional 13,798 shares during the period. Janus Henderson Group PLC lifted its holdings in Cytokinetics by 17.2% during the third quarter. Janus Henderson Group PLC now owns 1,143,830 shares of the biopharmaceutical company’s stock valued at $60,399,000 after purchasing an additional 167,501 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Cytokinetics by 13.7% during the fourth quarter. Fisher Asset Management LLC now owns 616,492 shares of the biopharmaceutical company’s stock valued at $29,000,000 after purchasing an additional 74,208 shares in the last quarter. Finally, Checkpoint Capital L.P. grew its position in shares of Cytokinetics by 145.7% in the third quarter. Checkpoint Capital L.P. now owns 466,813 shares of the biopharmaceutical company’s stock valued at $24,648,000 after purchasing an additional 276,813 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on CYTK shares. Morgan Stanley set a $67.00 price target on shares of Cytokinetics in a research note on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. Royal Bank of Canada raised their price objective on Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Citigroup assumed coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insider Activity at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $45.92, for a total value of $91,840.00. Following the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,329,980.32. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert I. Blum sold 16,970 shares of Cytokinetics stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.44, for a total value of $737,176.80. Following the completion of the sale, the chief executive officer now directly owns 364,181 shares of the company’s stock, valued at $15,820,022.64. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,834 shares of company stock worth $1,949,275. Company insiders own 3.40% of the company’s stock.

Cytokinetics Stock Up 0.5 %

CYTK stock opened at $43.19 on Monday. Cytokinetics, Incorporated has a one year low of $40.53 and a one year high of $75.71. The firm has a market cap of $5.11 billion, a PE ratio of -8.03 and a beta of 0.95. The firm’s 50 day moving average price is $45.75 and its 200-day moving average price is $49.52. The company has a debt-to-equity ratio of 5.93, a quick ratio of 9.28 and a current ratio of 9.28.

Cytokinetics (NASDAQ:CYTK) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.03. The business had revenue of $16.93 million during the quarter, compared to analysts’ expectations of $14.26 million. On average, equities research analysts anticipate that Cytokinetics, Incorporated will post -5.24 EPS for the current year.

About Cytokinetics

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.