Legal & General Group Plc Reduces Position in Cytokinetics, Incorporated (NASDAQ:CYTK)

Legal & General Group Plc reduced its holdings in Cytokinetics, Incorporated (NASDAQ:CYTK) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,632 shares of the biopharmaceutical company’s stock after selling 2,168 shares during the period. Legal & General Group Plc’s holdings in Cytokinetics were worth $8,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CYTK. Jones Financial Companies Lllp lifted its stake in Cytokinetics by 189.8% in the 4th quarter. Jones Financial Companies Lllp now owns 571 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 374 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Cytokinetics during the fourth quarter worth approximately $29,000. AlphaQuest LLC boosted 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 buying an additional 1,135 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in Cytokinetics by 62.1% during the fourth 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 during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Cytokinetics by 85.8% in the 4th quarter. Blue Trust Inc. now owns 1,823 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 842 shares during the last quarter.

Cytokinetics Stock Performance

Shares of CYTK stock opened at $39.48 on Friday. The firm has a 50 day moving average of $42.63 and a two-hundred day moving average of $47.75. The stock has a market capitalization of $4.71 billion, a PE ratio of -7.34 and a beta of 0.94. 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, Incorporated has a 52 week low of $32.74 and a 52 week high of $68.76.

Cytokinetics (NASDAQ:CYTK) last released 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 company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.26 million. On average, research analysts predict that Cytokinetics, Incorporated will post -5.24 EPS for the current fiscal year.

Analysts Set New Price Targets

CYTK has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Cytokinetics in a report on Tuesday, April 8th. Citigroup initiated coverage on shares of Cytokinetics in a report on Friday, February 7th. They set a “buy” rating and a $86.00 price target for the company. Stifel Nicolaus assumed coverage on Cytokinetics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Cytokinetics in a research note on Tuesday. Finally, Morgan Stanley set a $67.00 target price on Cytokinetics in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Insider Activity at Cytokinetics

In other news, CEO Robert I. Blum sold 16,970 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $43.44, for a total value of $737,176.80. Following the transaction, the chief executive officer now owns 364,181 shares in the company, valued at approximately $15,820,022.64. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fady Ibraham Malik sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $45.92, for a total value of $91,840.00. Following the completion of the transaction, the executive vice president now directly owns 116,071 shares of the company’s stock, valued at $5,329,980.32. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,360 shares of company stock valued at $2,890,065 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

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.