Fisher Asset Management LLC Has $52.29 Million Holdings in Cytokinetics, Incorporated $CYTK

Fisher Asset Management LLC lifted its holdings in shares of Cytokinetics, Incorporated (NASDAQ:CYTK) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 822,885 shares of the biopharmaceutical company’s stock after acquiring an additional 61,298 shares during the quarter. Fisher Asset Management LLC’s holdings in Cytokinetics were worth $52,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Cytokinetics by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after buying an additional 191,336 shares during the period. Deep Track Capital LP lifted its holdings in Cytokinetics by 17.8% in the third quarter. Deep Track Capital LP now owns 4,300,000 shares of the biopharmaceutical company’s stock valued at $236,328,000 after buying an additional 650,000 shares during the period. Vestal Point Capital LP lifted its holdings in Cytokinetics by 14.8% in the second quarter. Vestal Point Capital LP now owns 2,975,000 shares of the biopharmaceutical company’s stock valued at $98,294,000 after buying an additional 384,469 shares during the period. Woodline Partners LP lifted its holdings in Cytokinetics by 676.1% in the third quarter. Woodline Partners LP now owns 1,647,725 shares of the biopharmaceutical company’s stock valued at $90,559,000 after buying an additional 1,435,422 shares during the period. Finally, Northern Trust Corp lifted its holdings in Cytokinetics by 2.0% in the third quarter. Northern Trust Corp now owns 1,406,832 shares of the biopharmaceutical company’s stock valued at $77,319,000 after buying an additional 27,641 shares during the period.

Cytokinetics Trading Down 0.8%

Shares of NASDAQ CYTK opened at $76.29 on Wednesday. The firm’s 50-day moving average price is $68.04 and its 200-day moving average price is $65.41. Cytokinetics, Incorporated has a 1-year low of $29.81 and a 1-year high of $80.20. The firm has a market capitalization of $9.49 billion, a P/E ratio of -11.15 and a beta of 0.38.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, meeting the consensus estimate of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. During the same quarter in the prior year, the company posted ($1.36) EPS. Cytokinetics’s revenue for the quarter was up 1112.5% on a year-over-year basis. Equities research analysts forecast that Cytokinetics, Incorporated will post -6.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CYTK. Morgan Stanley boosted their target price on shares of Cytokinetics from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Mizuho boosted their target price on shares of Cytokinetics from $84.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of Cytokinetics from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Citigroup began coverage on shares of Cytokinetics in a report on Monday, May 18th. They issued a “buy” rating and a $99.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.30.

Insider Activity

In other news, EVP Fady Ibraham Malik sold 12,033 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $747,850.95. Following the transaction, the executive vice president owned 153,902 shares in the company, valued at approximately $9,565,009.30. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert I. Blum sold 36,601 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $62.15, for a total transaction of $2,274,752.15. Following the transaction, the chief executive officer owned 430,330 shares in the company, valued at $26,745,009.50. This represents a 7.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 177,476 shares of company stock worth $11,294,769. Company insiders own 2.60% of the company’s stock.

Cytokinetics Company Profile

Cytokinetics, Inc is a late?stage biopharmaceutical company focused on the discovery and development of novel small?molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.