Cytokinetics, Incorporated (NASDAQ:CYTK) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,417 shares of the biopharmaceutical company’s stock after selling 119,413 shares during the period. Janus Henderson Group PLC owned approximately 0.87% of Cytokinetics worth $48,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CYTK. Mirador Capital Partners LP grew its holdings in Cytokinetics by 1.6% in the 4th quarter. Mirador Capital Partners LP now owns 65,636 shares of the biopharmaceutical company’s stock valued at $3,088,000 after buying an additional 1,010 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Cytokinetics by 7.8% in the fourth quarter. Inspire Investing LLC now owns 8,504 shares of the biopharmaceutical company’s stock valued at $400,000 after purchasing an additional 616 shares during the period. Blue Trust Inc. increased its position in Cytokinetics by 85.8% during the fourth quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 842 shares during the last quarter. Pacer Advisors Inc. increased its position in Cytokinetics by 2.9% during the fourth quarter. Pacer Advisors Inc. now owns 24,843 shares of the biopharmaceutical company’s stock worth $1,169,000 after purchasing an additional 690 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Cytokinetics during the fourth quarter worth about $133,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on CYTK shares. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of Cytokinetics in a report on Monday, April 21st. JMP Securities reiterated a “market outperform” rating and issued a $78.00 price objective on shares of Cytokinetics in a research report on Thursday, April 10th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Cytokinetics in a research report on Friday, May 2nd. Evercore ISI raised Cytokinetics to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Citigroup cut their price objective on Cytokinetics from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.44.

Insider Activity at Cytokinetics

In other news, EVP Fady Ibraham Malik sold 2,000 shares of Cytokinetics stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $45.98, for a total value of $91,960.00. Following the completion of the transaction, the executive vice president now owns 116,071 shares in the company, valued at approximately $5,336,944.58. This trade represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Callos sold 4,002 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.68, for a total transaction of $146,793.36. Following the sale, the executive vice president now owns 60,687 shares in the company, valued at $2,225,999.16. The trade was a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,362 shares of company stock worth $3,899,118. Company insiders own 2.70% of the company’s stock.

Cytokinetics Stock Down 4.7%

Shares of CYTK opened at $30.61 on Wednesday. The company’s 50-day simple moving average is $39.69 and its 200-day simple moving average is $45.68. 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, Incorporated has a 1 year low of $30.46 and a 1 year high of $61.40. The stock has a market capitalization of $3.66 billion, a PE ratio of -5.69 and a beta of 0.81.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.05. The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.77 million. During the same quarter last year, the company earned ($1.33) earnings per share. Cytokinetics’s quarterly revenue was up 89.1% compared to the same quarter last year. Analysts forecast that Cytokinetics, Incorporated will post -5.24 earnings per share for the current fiscal 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.