Vanguard Group Inc. Buys 472,595 Shares of Cytokinetics, Incorporated (NASDAQ:CYTK)

Vanguard Group Inc. boosted its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,743,324 shares of the biopharmaceutical company’s stock after acquiring an additional 472,595 shares during the period. Vanguard Group Inc. owned 10.96% of Cytokinetics worth $316,498,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CYTK. Advisor Group Holdings Inc. raised its position in Cytokinetics by 14.9% in the first quarter. Advisor Group Holdings Inc. now owns 5,930 shares of the biopharmaceutical company’s stock worth $154,000 after acquiring an additional 767 shares during the period. JPMorgan Chase & Co. grew its stake in Cytokinetics by 21.0% during the first quarter. JPMorgan Chase & Co. now owns 65,026 shares of the biopharmaceutical company’s stock valued at $2,394,000 after acquiring an additional 11,299 shares in the last quarter. Raymond James & Associates purchased a new position in Cytokinetics during the first quarter valued at approximately $564,000. PNC Financial Services Group Inc. boosted its stake in shares of Cytokinetics by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,454 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 372 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Cytokinetics by 1.9% in the 1st quarter. Bank of Montreal Can now owns 24,711 shares of the biopharmaceutical company’s stock worth $940,000 after purchasing an additional 456 shares in the last quarter.

Insiders Place Their Bets

In other Cytokinetics news, EVP Fady Ibraham Malik sold 32,604 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the sale, the executive vice president now owns 138,973 shares in the company, valued at approximately $9,389,015.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Fady Ibraham Malik sold 32,604 shares of Cytokinetics stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.56, for a total transaction of $2,202,726.24. Following the sale, the executive vice president now owns 138,973 shares in the company, valued at $9,389,015.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John T. Henderson sold 5,000 shares of Cytokinetics stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $85.14, for a total transaction of $425,700.00. Following the sale, the director now owns 42,632 shares in the company, valued at approximately $3,629,688.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,387 shares of company stock worth $10,035,950. Company insiders own 3.80% of the company’s stock.

Cytokinetics Stock Up 0.4 %

Shares of NASDAQ:CYTK opened at $71.41 on Thursday. Cytokinetics, Incorporated has a twelve month low of $25.98 and a twelve month high of $110.25. The stock has a market capitalization of $7.36 billion, a PE ratio of -13.10 and a beta of 0.69. The firm’s 50 day moving average price is $74.46 and its 200-day moving average price is $54.10.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.35). The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $7.62 million. During the same quarter last year, the firm posted ($1.45) EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts expect that Cytokinetics, Incorporated will post -4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CYTK. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price objective (up from $60.00) on shares of Cytokinetics in a report on Friday, January 5th. Needham & Company LLC reissued a “buy” rating and set a $108.00 price objective on shares of Cytokinetics in a research report on Wednesday, February 28th. Mizuho cut their price objective on shares of Cytokinetics from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. UBS Group downgraded shares of Cytokinetics from a “buy” rating to a “neutral” rating and increased their price objective for the company from $61.00 to $92.00 in a research report on Wednesday, January 24th. Finally, Raymond James raised their price target on shares of Cytokinetics from $63.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.00.

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.