Alliancebernstein L.P. Cuts Stock Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Alliancebernstein L.P. trimmed its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,595,324 shares of the biopharmaceutical company’s stock after selling 65,690 shares during the period. Alliancebernstein L.P.’s holdings in Cytokinetics were worth $75,044,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CYTK. Norges Bank purchased a new position in shares of Cytokinetics in the 4th quarter worth about $46,556,000. Two Sigma Advisers LP purchased a new position in Cytokinetics in the third quarter valued at approximately $11,336,000. Janus Henderson Group PLC lifted its position 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 buying an additional 167,501 shares in the last quarter. Vanguard Group Inc. grew its stake in Cytokinetics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,915,821 shares of the biopharmaceutical company’s stock worth $560,520,000 after buying an additional 154,216 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Cytokinetics by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,848,584 shares of the biopharmaceutical company’s stock worth $150,433,000 after acquiring an additional 109,938 shares in the last quarter.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $40.52 on Friday. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -7.53 and a beta of 0.95. Cytokinetics, Incorporated has a one year low of $37.46 and a one year high of $75.71. The company’s 50-day simple moving average is $45.20 and its 200-day simple moving average is $49.17. 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 issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($1.26) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.03. The firm had revenue of $16.93 million during the quarter, compared to analyst estimates of $14.26 million. Equities analysts anticipate that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CYTK. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Cytokinetics in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Stifel Nicolaus started coverage on Cytokinetics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price for the company. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 price objective on shares of Cytokinetics in a research report on Friday, March 7th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.00.

Insiders Place Their Bets

In related news, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $49.32, for a total transaction of $98,640.00. Following the completion of the sale, the executive vice president now owns 116,071 shares of the company’s stock, valued at $5,724,621.72. This represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert I. Blum sold 16,970 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total transaction of $737,176.80. Following the completion of the transaction, the chief executive officer now directly owns 364,181 shares in the company, valued at $15,820,022.64. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,834 shares of company stock valued at $2,560,525. 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.