Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. boosted its position in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 145.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,862 shares of the biopharmaceutical company’s stock after acquiring an additional 49,628 shares during the period. EFG Asset Management North America Corp.’s holdings in Cytokinetics were worth $3,943,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Harvey Capital Management Inc. acquired a new position in shares of Cytokinetics during the fourth quarter worth $1,040,000. Westfield Capital Management Co. LP lifted its holdings in Cytokinetics by 38.9% during 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 buying an additional 339,373 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cytokinetics by 42.7% during 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 acquiring an additional 395,709 shares in the last quarter. abrdn plc raised its position in shares of Cytokinetics by 29.4% during the 4th quarter. abrdn plc now owns 450,513 shares of the biopharmaceutical company’s stock worth $21,192,000 after acquiring an additional 102,457 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Cytokinetics by 113,500.0% during the fourth quarter. AlphaQuest LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,135 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on CYTK. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Cytokinetics in a research note on Thursday, February 6th. Stifel Nicolaus initiated coverage on shares of Cytokinetics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Cytokinetics in a research note on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and set a $78.00 target price on shares of Cytokinetics in a research report on Friday, February 7th. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cytokinetics has a consensus rating of “Moderate Buy” and an average price target of $82.00.

Insider Buying and Selling at Cytokinetics

In other news, CEO Robert I. Blum sold 12,648 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.38, for a total value of $561,318.24. Following the completion of the transaction, the chief executive officer now owns 326,533 shares in the company, valued at $14,491,534.54. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fady Ibraham Malik sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $49.32, for a total transaction of $98,640.00. Following the sale, the executive vice president now directly owns 116,071 shares in the company, valued at approximately $5,724,621.72. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,834 shares of company stock valued at $1,949,275. 3.40% of the stock is owned by company insiders.

Cytokinetics Trading Up 2.5 %

Shares of Cytokinetics stock opened at $46.57 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. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -8.66 and a beta of 0.95. Cytokinetics, Incorporated has a 52-week low of $40.53 and a 52-week high of $75.71. The company’s 50-day simple moving average is $45.96 and its 200-day simple moving average is $49.82.

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

Cytokinetics Company 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.