Royce & Associates LP Has $1.28 Million Holdings in Cytokinetics, Incorporated (NASDAQ:CYTK)

Royce & Associates LP raised its position in Cytokinetics, Incorporated (NASDAQ:CYTK) by 70.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,250 shares of the biopharmaceutical company’s stock after purchasing an additional 10,000 shares during the quarter. Royce & Associates LP’s holdings in Cytokinetics were worth $1,280,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Cytokinetics by 10.7% during the third quarter. Oppenheimer & Co. Inc. now owns 8,546 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 824 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Cytokinetics by 9.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 42,851 shares of the biopharmaceutical company’s stock worth $2,263,000 after acquiring an additional 3,654 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Cytokinetics by 16.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,640 shares of the biopharmaceutical company’s stock worth $403,000 after acquiring an additional 1,072 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Cytokinetics in the third quarter valued at approximately $660,000. Finally, Van ECK Associates Corp lifted its position in shares of Cytokinetics by 21.3% in the third quarter. Van ECK Associates Corp now owns 71,691 shares of the biopharmaceutical company’s stock worth $3,802,000 after purchasing an additional 12,565 shares in the last quarter.

Analysts Set New Price Targets

CYTK has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research report on Tuesday, August 13th. Royal Bank of Canada started coverage on Cytokinetics in a report on Friday, November 8th. They issued an “outperform” rating and a $80.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cytokinetics in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Cytokinetics from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $78.00 price objective on shares of Cytokinetics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Cytokinetics Stock Down 1.6 %

Cytokinetics stock opened at $51.09 on Wednesday. Cytokinetics, Incorporated has a twelve month low of $30.68 and a twelve month high of $110.25. The stock has a market cap of $6.03 billion, a P/E ratio of -9.50 and a beta of 0.78. The company’s 50-day moving average price is $53.94 and its two-hundred day moving average price is $55.01. 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 (NASDAQ:CYTK) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.09). The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $1.21 million. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.35) EPS. As a group, analysts expect that Cytokinetics, Incorporated will post -4.32 EPS for the current year.

Insider Activity

In related news, EVP Fady Ibraham Malik sold 7,384 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.01, for a total value of $420,961.84. Following the completion of the sale, the executive vice president now directly owns 122,920 shares in the company, valued at approximately $7,007,669.20. The trade was a 5.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wendall Wierenga sold 4,452 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $52.25, for a total value of $232,617.00. Following the transaction, the director now owns 24,559 shares in the company, valued at approximately $1,283,207.75. This trade represents a 15.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,078 shares of company stock valued at $3,514,119. 3.40% of the stock is owned by company 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.