B. Metzler seel. Sohn & Co. Holding AG Takes $248,000 Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Cytokinetics, Incorporated (NASDAQ:CYTK) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,698 shares of the biopharmaceutical company’s stock, valued at approximately $248,000.

Several other hedge funds have also modified their holdings of the stock. Pathstone Holdings LLC raised its stake in shares of Cytokinetics by 17.0% in the third quarter. Pathstone Holdings LLC now owns 34,560 shares of the biopharmaceutical company’s stock valued at $1,825,000 after acquiring an additional 5,027 shares in the last quarter. Swiss National Bank raised its stake in Cytokinetics by 10.2% in the third quarter. Swiss National Bank now owns 215,500 shares of the biopharmaceutical company’s stock valued at $11,378,000 after buying an additional 20,000 shares in the last quarter. Royce & Associates LP raised its stake in Cytokinetics by 70.2% in the third quarter. Royce & Associates LP now owns 24,250 shares of the biopharmaceutical company’s stock valued at $1,280,000 after buying an additional 10,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Cytokinetics by 10.7% in the third quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock valued at $451,000 after buying an additional 824 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Cytokinetics by 9.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock valued at $2,263,000 after buying an additional 3,654 shares in the last quarter.

Insider Buying and Selling at Cytokinetics

In other Cytokinetics news, EVP Fady Ibraham Malik sold 7,384 shares of Cytokinetics 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 sale, the executive vice president now owns 122,920 shares of the company’s stock, valued at approximately $7,007,669.20. The trade was a 5.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendall Wierenga sold 4,452 shares of Cytokinetics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $52.25, for a total value of $232,617.00. Following the completion of the sale, the director now directly owns 24,559 shares in the company, valued at $1,283,207.75. This represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,078 shares of company stock valued at $3,514,119. 3.40% of the stock is owned by corporate insiders.

Cytokinetics Stock Performance

NASDAQ CYTK opened at $50.25 on Tuesday. 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, Incorporated has a 52-week low of $30.68 and a 52-week high of $110.25. The business’s 50-day moving average price is $53.47 and its 200 day moving average price is $54.57. The firm has a market cap of $5.93 billion, a P/E ratio of -9.34 and a beta of 0.78.

Cytokinetics (NASDAQ:CYTK) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The company had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $1.21 million. During the same quarter in the prior year, the company posted ($1.35) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts expect that Cytokinetics, Incorporated will post -5.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CYTK shares. Cantor Fitzgerald restated an “overweight” rating on shares of Cytokinetics in a research note on Friday, October 18th. JMP Securities restated a “market outperform” rating and issued a $78.00 price target on shares of Cytokinetics in a research note on Wednesday, September 4th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Cytokinetics in a research note on Monday, November 18th. The Goldman Sachs Group cut Cytokinetics from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $60.00 in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada assumed coverage on Cytokinetics in a report on Friday, November 8th. They set an “outperform” rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cytokinetics currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

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.