Massachusetts Financial Services Co. MA Lowers Stock Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Massachusetts Financial Services Co. MA lessened its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 7.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 319,281 shares of the biopharmaceutical company’s stock after selling 25,167 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cytokinetics were worth $15,019,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Cytokinetics by 189.8% during the fourth quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics in the 4th quarter valued at about $29,000. AlphaQuest LLC boosted its holdings in Cytokinetics by 113,500.0% in the 4th quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp increased its stake in Cytokinetics by 62.1% during the 4th quarter. J.Safra Asset Management Corp now owns 1,751 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 671 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 842 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CYTK shares. Stifel Nicolaus began coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a report on Friday, February 7th. Citigroup started coverage on shares of Cytokinetics in a research note on Friday, February 7th. They issued a “buy” rating and a $86.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Cytokinetics from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Evercore ISI raised shares of Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $48.06, for a total value of $96,120.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,578,372.26. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Callos sold 3,341 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $43.27, for a total value of $144,565.07. Following the completion of the transaction, the executive vice president now directly owns 64,434 shares in the company, valued at $2,788,059.18. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,170 shares of company stock worth $2,582,889. Corporate insiders own 3.40% of the company’s stock.

Cytokinetics Price Performance

CYTK stock opened at $35.99 on Tuesday. Cytokinetics, Incorporated has a 52-week low of $34.19 and a 52-week high of $75.71. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -6.69 and a beta of 0.94. The business has a fifty day moving average of $44.65 and a two-hundred day moving average of $48.80. 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 (NASDAQ:CYTK) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.03. The business had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. As a group, research analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share 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.